Federal Court of Australia
Federal Court of Australia
MCL Pty Ltd v The Agency Group Australia Ltd (No 3) [2021] FCA 1241 File number: WAD 7 of 2021
Judgment of: COLVIN J
Date of judgment: 14 October 2021
Catchwords: CORPORATIONS - cross-claim for enforcement of payment of fees and interest under terms of agreement - where parties entered into agreement for cross-claimant to advance finance to cross-respondent - where agreement provides for payment of fees by borrower in circumstances of withdrawal from agreement - where no funds advanced by cross-claimant - whether cross-claimant exercised contractual right to withdraw from agreement on basis of due diligence issues or breach of exclusivity provision by cross-respondent - whether exercise of contractual right to withdraw triggers liability for payment of fees by borrower - alternatively whether liability for payment as to one type of fee arose upon entry into agreement - whether agreement void by reason of mutual abandonment of agreement - application allowed to limited extent
Legislation: Personal Property Securities Act 2009 (Cth)
Cases cited: Australian Broadcasting Commission v Australasian Performing Right Association Ltd (1973) 129 CLR 99 Bibby Financial Services Australia Pty Ltd v Sharma [2014] NSWCA 37 Brewarrina Shire Council v Beckhaus Civil Pty Ltd [2005] NSWCA 248 Cedar Meats (Aust) Pty Ltd v Five Star Lamb Pty Ltd [2014] VSCA 32 CIC Insurance Ltd v Bankstown Football Club Inc (1995) 8 ANZ Ins Cases 61-232 Clifton (Liquidator) v Kerry J Investment Pty Ltd trading as Clenergy [2020] FCAFC 5 Concut Pty Ltd v Worrell [2000] HCA 64 DTR Nominees Pty Ltd v Mona Homes Proprietary Ltd (1978) 138 CLR 423 Ecosse Property Holdings Pty Ltd v Gee Dee Nominees Pty Ltd [2017] HCA 12; (2017) 261 CLR 544 Electricity Generation Corporation v Woodside Energy Ltd [2014] HCA 7; (2014) 251 CLR 640 Fazio v Fazio [2012] WASCA 72 Gange v Sullivan (1966) 116 CLR 418 GC NSW Pty Ltd v Galati [2020] NSWCA 326 Hampton v BHP Billiton Minerals Pty Ltd [No 2] [2012] WASC 285 Havenbar Pty Ltd v Butterfield (1974) 133 CLR 449 Maggbury Pty Ltd v Hafele Australia Pty Ltd [2001] HCA 70; (2001) 210 CLR 181 Mann v Paterson Constructions Pty Ltd [2019] HCA 32; (2019) 267 CLR 560 McCann v Switzerland Insurance Australia Ltd [2000] HCA 65; (2000) 203 CLR 579 McDonald v Dennys Lascelles Ltd (1933) 48 CLR 457 Melbourne Stadiums Ltd v Sautner [2015] FCAFC 20; (2015) 229 FCR 221 MK & JA Roche Pty Ltd v Metro Edgley Pty Ltd [2005] NSWCA 39 Mount Bruce Mining Pty Ltd v Wright Prospecting Pty Ltd [2015] HCA 37; (2015) 256 CLR 104 Progressive Mailing House Pty Ltd v Tabali Pty Ltd (1985) 157 CLR 17 Quinn Villages Pty Ltd v Mulherin [2006] QCA 433 Rudi's Enterprises Pty Ltd v Jay (1987) 10 NSWLR 568 Ryder v Frohlich [2004] NSWCA 472 Shepherd v Felt & Textiles of Australia Ltd (1931) 45 CLR 359 Sunbird Plaza Pty Ltd v Maloney (1988) 166 CLR 245 Suttor v Gundowda Pty Ltd (1950) 81 CLR 418 Waterman v Gerling Australia Insurance Company Pty Ltd [2005] NSWSC 1066; (2005) 65 NSWLR 300 Westralian Farmers Ltd v Commonwealth (1936) 54 CLR 361 Williams v Frayne (1937) 58 CLR 710
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