Revocation and Reissuing of Interest on Judgments Practice Note (GPN-INT)
18 September 2017
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 that were issued on 25 October 2016, the Court has made minor changes to the Interest on Judgments Practice Note (GPN-INT). The version of this practice note issued on 25 October 2016 has been revoked and the new Interest on Judgments Practice Note (GPN-INT) is now issued, taking effect from today, Monday, 18 September 2017.
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 email@example.com.