Interest on Judgments Practice Note
20 September 2017
The Chief Justice of the Federal Court has revoked the Interest on Judgments Practice Note (GPN-INT) issued on 25 October 2016, and issued the new Interest on Judgments Practice Note (GPN-INT) which took effect from Monday, 18 September 2017. The new practice note is now available on the Federal Court website.
The Interest on Judgments Practice Note (GPN-INT) is one of the Court’s General Practice Notes and clarifies certain matters relevant to the calculation of interest on Federal Court judgments. As part of the 12-month review of the General Practice Notes the Court has made minor changes to this practice note.
There is no material change to how the Court approaches interest on judgments. The changes clarify the application of pre-judgment interest in relation to proceedings under the Fair Work Act 2009 (Cth). As interest rates are not prescribed under the Fair Work legislation, this practice note now notes that the Court will have regard to the rates set out in paragraph 2.2 of the practice note with respect to the pre-judgment period, as it does in other cases.
For calculation of interest, please refer to the table of Pre-judgment & Post-judgment Interest Rates on the Court's website.
If you have any questions about this practice note please email the Court at firstname.lastname@example.org.