Genworth Financial Mortgage Insurance Pty Ltd v KCRAM Pty Ltd (in Liquidation) (No 2) [2011] FCA 1124

FEDERAL COURT OF AUSTRALIA

Genworth Financial Mortgage Insurance Pty Ltd v KCRAM Pty Ltd (in Liquidation) (No 2) [2011] FCA 1124 Citation: Genworth Financial Mortgage Insurance Pty Ltd v KCRAM Pty Ltd (in Liquidation) (No 2) [2011] FCA 1124

Parties: GENWORTH FINANCIAL MORTGAGE INSURANCE PTY LTD v KCRAM PTY LTD (IN LIQUIDATION)

File number: NSD 394 of 2011

Judge: PERRAM J

Date of judgment: 4 October 2011

Catchwords: PRACTICE AND PROCEDURE – Parties – Joinder – application to join insurer as respondent – claims made policy – availability of statutory charge under s 6 of the Law Reform (Miscellaneous Provisions) Act 1946 (NSW) – application for declaratory relief PRACTICE AND PROCEDURE – Parties – Joinder – Dispute between insurer and insured about cover – whether party suing insured entitled to declaration that insurer is liable to insured where insured in liquidation INSURANCE – Professional indemnity insurance – claims made policy – application to join insurer as respondent – statutory charge – discussion of availability of charge under s 6 of the Law Reform (Miscellaneous Provisions) Act 1946 (NSW) – where event giving rise to claim by third party occurred before policy period – application for declaratory relief – where insurer denies indemnity – insured in liquidation – where third party claims priority under Corporations Act 2001 (Cth) s 562

Legislation: Corporations Act 2001 (Cth) s 562 Insurance Contracts Act 1984 (Cth) ss 24, 28, 33 Law Reform (Miscellaneous Provisions) Act 1946 (NSW) s 6 Federal Court Rules 2011 Rule 9.02