Eiros Pty Ltd v St George Bank Ltd [2008] FCA 1475

FEDERAL COURT OF AUSTRALIA

Eiros Pty Ltd v St George Bank Ltd [2008] FCA 1475

CORPORATIONS – statutory demand – application to vary or set aside – off-setting claim constituted by a costs order – whether other costs orders should be set-off against the offsetting claim

Aussie Vic Plant Hire Ltd v Esanda Finance Corporation Limited (2008) 232 CLR 314 Barker v Hemming (1880) 5 QBD 609 David v Rees [1904] 2 KB 435 Edwards v Hope (1885) 14 QBD 922 Hassell v Sanely [1896] 1 Ch 607 Lockley v National Blood Transfusion Service [1992] 1 WLR 492 Midas v Equator [2007] 25 ACLC 1038 Pringle v Gloag (1879) 10 Ch D 676 Reid v Cupper [1915] 2 KB 147 Wentworth v Wentworth (unreported, Supreme Court of New South Wales, Young J, 12 December 1994) Williams, Civil Procedure Victoria EIROS PTY LTD, THIRTEENTH CORP PTY LTD, APADANA PTY LTD, SHALRIDGE PTY LTD, BOMAN IRANI PTY LTD and COMBULK PTY LTD v ST GEORGE BANK LIMITED

VID 505 of 2008

FINKELSTEIN J

3 OCTOBER 2008

MELBOURNE IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VID 505 of 2008

BETWEEN: EIROS PTY LTD,

THIRTEENTH CORP PTY LTD,

APADANA PTY LTD,

SHALRIDGE PTY LTD,

BOMAN IRANI PTY LTD and

COMBULK PTY LTD

Plaintiffs

AND: ST GEORGE BANK LIMITED

Defendant

JUDGE: FINKELSTEIN J DATE OF ORDER: 3 OCTOBER 2008

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT:

1. The debt claimed in the statutory demands dated 12 June 2008, served by the defendant on Eiros Pty Ltd, Thirteenth Corp Pty Ltd, Apadana Pty Ltd, Shalridge Pty Ltd, Boman Irani Pty Ltd and Combulk Pty Ltd, be reduced by $14,075.98 to $290,068.90. 2. The period for compliance with the statutory demands shall end on 17 October 2008. 3. The plaintiffs' application is otherwise dismissed. 4. The plaintiffs pay the defendant's costs to be taxed in default of agreement. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA