Avco Financial Services Canada Ltd. v. Kilbreath, (1996) 192 A.R. 131 (QB)

• Judge: Veit, J.
• Court: Court of Queen's Bench of Alberta (Canada)
• Case Date: October 18, 1996
• Citations: (1996), 192 A.R. 131 (QB)

Avco Financial Services v. Kilbreath (1996), 192 A.R. 131 (QB)

MLB headnote and full text

Avco Financial Services Canada Limited (plaintiff) v. Carla J. Kilbreath (defendant)

(Action No. 9603 16573)

Indexed As: Avco Financial Services Canada Ltd. v. Kilbreath

Alberta Court of Queen's Bench

Judicial District of Edmonton

Veit, J.

November 5, 1996.

Summary:

The defendant borrowed money from Avco to purchase a vehicle and failed to keep up the monthly payments. Avco obtained default judgment against the defendant and applied to be allowed to charge post judg­ment interest at the rate stipulated in the contract (27.95%), rather than the amount of interest set under the Judgment Interest Act.

The Alberta Court of Queen's Bench held that Avco was only entitled to statutory post judgment interest.

Interest - Topic 3002

Statutory interest - Interest Act - Appli­cation of - [See Interest - Topic 3508 ].

Interest - Topic 3508

Statutory interest - On judgments - Agreement to pay other than statutory rate - The defendant borrowed money from Avco to purchase a vehicle and failed to keep up the monthly payments - Avco obtained default judgment against the defendant and applied to be allowed to charge post judgment interest at the rate stipulated in the contract (27.95%), rather than the amount of interest set under the Judgment Interest Act - The Alberta Court of Queen's Bench held that Avco was only entitled to statutory post judgment interest - The Alberta Judgment Interest Act regu­lated post judgment interest in the province and overrode the terms of Avco's contract - The federal Interest Act did not apply.

Cases Noticed:

Bank of Nova Scotia v. Dunphy Leasing Enterprises Ltd. (1991), 120 A.R. 241; 8 W.A.C. 241 (C.A.), refd to. [para. 4].

Eaton (T.) Co. v. Madden (1991), 126 A.R. 129 (Q.B.), refd to. [para. 4].

Canada Permanent Trust Co. v. King Art Development Ltd. et al. (1984), 54 A.R. 172 (C.A.), refd to. [para. 4].

National Trust Co. v. Conroy (1995), 168 A.R. 161; 28 Alta. L.R.(3d) 213 (Q.B. Master), folld. [para. 4].

Statutes Noticed:

Judgment Interest Act, S.A. 1984, c. J-0.5, sect. 4(3), sect. 6(2) [para. 5].

Counsel:

W.C.M. Robson, for the applicant.

This motion was heard on October 18, 1996, before Veit, J., of the Alberta Court of Queen's Bench, Judicial District of Edmon­ton, who delivered the following decision on November 5, 1996.