Dale Fitzpatrick

Following judgment in favour of the plaintiffs against two defendants jointly and severally for damages arising from a civil claim, the plaintiffs sought a supplementary endorsement addressing pre-judgment interest.

The statement of claim included a request for pre-judgment interest under the Courts of Justice Act.

The court confirmed that the plaintiffs were entitled to pre-judgment interest at the statutory rate.

Judgment was therefore amended to include pre-judgment interest at 4.5% on the damages award commencing from the date the statement of claim was issued.

The plaintiffs and defendants were co-owners of a yacht.

The defendants, acting as trustees, listed the yacht for sale with a broker.

The broker sold the yacht but subsequently entered receivership before distributing the full proceeds.

Prior to the bankruptcy, the defendants managed to recover $114,628.80 from the broker, which they deposited into their own business account.

The plaintiffs sued for their share of the proceeds.

The court found that while the defendants did not breach their trust duties in hiring the broker or leaving the funds there during settlement negotiations, they remained trustees of the recovered funds.

The court ordered the defendants to pay the plaintiffs half of the recovered amount, as the third co-owner abandoned his claim.