Balmedie Pty Ltd & Anor v Russo, Nicola & Ors [1997] FCA 467

CATCHWORDS PRACTICE AND PROCEDURE - strikeout application - letter of credit issued for repayment of investors in film - whether amount paid for issue of letter of credit impressed with a trust - whether company issuing letter of credit engaged in joint venture - whether members of joint venture liable to outsiders EQUITY - letter of credit issued for repayment of investors in film - payment for issue of letter of credit - whether impressed with trust - whether principle in Quistclose Investments Ltd v Rolls Razor Ltd [1970] AC 567 applicable CONTRACTS - joint venture - liability to outsiders - whether evidence of subsequent conduct available as an aid to construction Administration of Territory of Papua and New Guinea v Daera Guba (1974) 130 CLR 353 Dey v Victorian Railways Commissioners (1949) 78 CLR 62 Equus Corporation Ltd v Perpetual Trustees WA Limited No. VG 3415 of 1996 FAI Traders Insurance Co Ltd v Savoy Plaza Pty Ltd [1993] 2 VR 343 General Steel Industries Inc v Commissioner for Railways (NSW) (1964) 112 CLR 125 Hospital Products Ltd v United States Surgical Corporation (1984) 156 CLR 41 James Miller & Partners Ltd v Whitworth Street Estate (Manchester) Ltd [1970] AC 583 Keech v Sandford (1726) Sel. Cas. T. King 61, 25 ER 223 L Schuler A G v Wickman Machine Tool Sales [1974] AC 235 News Ltd v Australian Rugby Football League Ltd (1996) 139 ALR 193

Quistclose Investments Ltd v Rolls Razor Ltd [1970] AC 567 Salomon v Salomon & Co Ltd [1897] AC 22 Sellars v Adelaide Petroleum NL (1994) 179 CLR 332 Spunwill Pty Ltd v Bab Pty Ltd (1994) 36 NSWLR 290 Toovey v Milne (1819) 2 B & A 683 United Dominions Corporation Limited v Brian Pty Ltd (1985) 157 CLR 1 White v Australia and New Zealand Theatres Ltd (1943) 67 CLR 266 Balmedie Pty Ltd & Anor -v- Nicola Russo & Ors (No. 716 of 1996) Judge: Heerey J Date: May 1997 Place: Melbourne