IN THE HIGH COURT OF KIRIBATI
HELD AT BETIO
REPUBLIC OF KIRIBATI
CIVIL JURISDICTION

HIGH COURT CIVIL CASE 74 OF 2010

BETWEEN:

CORAL SUN AIRWAYS
JUDGMENT CREDITOR

AND:

CIVIL AVIATION AUTHORITY
JUDGMENT DEBTOR

FOR JUDGMENT CREDITOR: BANUERA BERINA 
FOR JUDGMENT DEBTOR: MONOO MWERETAKA
Date of Hearing: 24 November 2011

ORDER

Having heard Mr Berina of Counsel for the Judgment Creditor and Mr Mweretaka of Counsel for the Judgment Debtor, and further, having satisfied that there is sufficient fund in the Special Fund account established for the Judgment Debtor and having considered the previous decisions of the High Court and Court of Appeal regarding this case, IT IS HEREBY ORDERED that the Judgment Debtor shall pay to the Judgment Creditor the full amount of the judgment debt plus 10% interest per annum as condition of stay pending appeal as per High Court Order dated 17 February 2011. This payment shall be made within 1 month from today.

The total amount to be paid is $380,411.20, the breakdown is as follows:

Judgment Debt (principal sum):	$340,000.00	
10% interest per annum:	$34,000.00	
Interest per month ($34,000.00/12):	$2833.00	
Interest per day ($34,000/365):	$93.15 per day	
Period covered: 	1 year, 2 months and 8 days, counting from 12 November 2010 (judgment date) to 20 January 2012 (1 month from today).	

Therefore for the period covered the total interest is as follows;

1 year:	$34,000.00	
2 months:	$5,666.00	
8 days:	$745.20	
Total:	$40,411.20 	

Therefore breakdown of total debt is as follows;

Judgment Debt (Principal sum):	$340,000.00	
Interest to 20 Jan 2012:	$40,411.20	
Total Debt:	$380,411.20	

Dated 20th December 2011

TETIRO M SEMILOTA
COMMISSIONER