Angus Group Ltd v Lincoln Industries Ltd - [1990] 3 NZLR 82

Arbitration — Award — Interest on award — Price of assets being sold was determined by umpire when valuers failed to agree — Reference to arbitration contained no provision for payment of interest — Umpire awarded interest at commercial rate to vendor — Whether umpire had jurisdiction to award interest at commercial rate — Whether umpire had jurisdiction to award interest at statutory rate — Judicature Act 1908, s 87.

Arbitration — Costs — Reference to arbitration contained clause that the parties were to share equally the cost of arbitration — Whether, in reliance on that clause, arbitrator was justified in making no award of costs to successful party and requiring the parties to bear equally the costs — Whether the clause was void — Arbitration Act 1908, s 14.