Greensill Capital Pty Ltd & Ors v BCC Trade Credit Pty Ltd & Ors [2021] NSWSC 167

Supreme Court New South Wales

Medium Neutral Citation: Greensill Capital Pty Ltd & Ors v BCC Trade Credit Pty Ltd & Ors [2021] NSWSC 167 Hearing dates: 1 March 2021 Date of orders: 1 March 2021 Decision date: 01 March 2021 Jurisdiction: Equity - Commercial List Before: Stevenson J Decision: Interlocutory mandatory injunction refused Catchwords: PRACTICE AND PROCEDURE – injunctions – urgent after-hours application for interlocutory mandatory injunction compelling insurer to issue trade credit insurance policy – whether serious question to be tried that insurer obliged to renew policy – whether balance of convenience favoured interlocutory relief – where serious consequences for plaintiffs if policies not renewed – where insurer not re-insured in relation to any renewal of policy – where delay in bringing matter to Court INSURANCE – trade credit insurance – where insurer gave notice of intention not to review policy – where policy expired at midnight – whether insurer obliged to renew policy Category: Procedural rulings Parties: Greensill Capital Pty Ltd (First Plaintiff) Greensill Capital (UK) Ltd (Second Plaintiff) Greensill Bank AG (Third Plaintiff) BCC Trade Credit Pty Ltd (First Defendant) Tokio Marine Management (Australasia) Pty Ltd (Second Defendant) Insurance Australia Limited (Third Defendant) Representation: Counsel: Dr R C A Higgins SC with Mr A M Hochroth (Plaintiffs) Mr J Williams SC (First and Second Defendants) Mr E A J Hyde (Third Defendant)