Re Taylor, H.M. & Anor Ex parte Century 21 Real Estate Corporation [1995] FCA 435

CATCHWORDS

GUARANTEES AND INDEMNITIES - construction - whether instrument purporting to indemnify was really a guarantee - effect of "principal debtor" clause - whether a demand was required before liability arose - nature of guarantee as a collateral contract. BANKRUPTCY - whether a debt was owed by a guarantor for the purposes of an administration under Part X before a demand was made - whether debt or contingent debt. Bankruptcy Act 1966, ss. 82 and 237 Bankruptcy Rules, r. 83 In re J. Brown's Estate. Brown v Brown [1893] 2 Ch. 300 Bradford Old Bank, Limited v Sutcliffe [1918] 2 KB 833 Moschi v Lep Air Services Ltd [1973] AC 331 Sunbird Plaza Proprietary Limited v Maloney (1988) 166 CLR 245 David Securities Pty Limited v Commonwealth Bank of Australia (1992) 175 CLR 353 Stadium Finance Co, Ltd v Helm (1965) 109 Sol J 471 Esso Petroleum Co Ltd v Alstonbridge Properties Ltd [1975] 1 WLR 1,474 General Produce Co v United Bank Ltd (1979) 2 Lloyd's LR 255 Bond v. Hongkong Bank of Australia Ltd (1991) 25 NSWLR 286 Heald v. O'Connor [1971] 1 WLR 497 Citicorp Australia Ltd v. Hendry (1985) 4 NSWLR 1 Morris v. Maroudas (1986) 12 FCR 346 Gye v. McIntyre (1991) 171 CLR 609 Re Cufari; Ex parte Deputy Commissioner of Taxation v. Huppatz (1992) 110 ALR 497 Hawkins v. Bank of China (1992) 26 NSWLR 562 RE: HUGH MAXWELL TAYLOR AND ALBERT BRIAN TAYLOR; EX PARTE: CENTURY 21 REAL ESTATE CORPORATION NX 85 of 1991 Burchett J. Sydney 27 June 1995

IN THE FEDERAL COURT OF AUSTRALIA) ) BANKRUPTCY DISTRICT OF THE STATE ) NX 85 of 1991 ) OF NEW SOUTH WALES ) RE: HUGH MAXWELL TAYLOR AND ALBERT BRIAN TAYLOR Debtors EX PARTE: CENTURY 21 REAL ESTATE CORPORATION Applicant

CORAM: Burchett J. PLACE: Sydney DATE : 27 June 1995 ORDER OF THE COURT THE COURT ORDERS THAT the applicant bring in, on a date to be fixed, short minutes of orders reflecting the reasons of the Court. NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.