New commentary has been added to the Motor Vehicle Accident (NSW) Guides regarding how to calculate a claim for interest for the period from when the loss to which the damages relate was first incurred, until the date on which the damages are awarded.
The amount of interest is to be calculated in accordance with the principles ordinarily applied by a court for that purpose. The rate of interest is to be three-quarters of the rate prescribed for the purposes of CPA s 101: s 4.16(5) – with the “prescribed rate” being the rate of interest prescribed by reg 36.7 of the UCPR.