nib Holdings Ltd v Raffy Nominees Pty Ltd as trustee of the Whitecoat Holding Trust; Raffy Nominees Pty Ltd v nib Holdings Ltd [2023] NSWSC 715

Supreme Court New South Wales

Medium Neutral Citation: nib Holdings Ltd v Raffy Nominees Pty Ltd as trustee of the Whitecoat Holding Trust; Raffy Nominees Pty Ltd v nib Holdings Ltd [2023] NSWSC 715 Hearing dates: 8 and 9 May 2023 Date of orders: 28 June 2023 Decision date: 28 June 2023 Jurisdiction: Equity - Commercial List Before: Ball J Decision: Nib Proceeding (1) Judgment for the plaintiff in the sum of $1,601,640.69; (2) The crossclaim be dismissed; (3) Stand the matter over to 9.15 am on 12 July 2023 or such other date as is agreed with my Associate to deal with the question of costs. Raffy Proceeding The plaintiff pay the defendants' costs of the proceeding on an indemnity basis. Catchwords: CONTRACTS — Breach of contract — Plaintiff seeks to recover debt under loan agreement — Defendant seeks rescission — Joint Venture — Where corporate structure and shareholders agreement leave no room for existence of fiduciary duties between parties in alleged joint venture — No breach of fiduciary duties — No connection between alleged breaches of fiduciary duties and loan agreement COSTS — Party/Party — Bases of quantification — Indemnity basis — Where plaintiff made application to discontinue proceedings at start of hearing — Where claims time-barred CIVIL PROCEDURE — Discontinuance of proceedings — Leave of court — Terms on which proceedings discontinued — UCPR r 12.3 — Where defendants seek a term for no new proceedings to be brought relying on the same allegations after leave already granted and exercised Legislation Cited: Civil Procedure Act 2005 (NSW) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: Hospital Products Ltd v United States Surgical Corporation (1984) 156 CLR 41; [1984] HCA 64 Murdoch v Mudgee Dolomite & Lime Pty Ltd (in liq) [2022] NSWCA 12 Roberts v Investwell Pty Ltd (in liq) [2012] NSWCA 134; (2012) 88 ACSR 689 United Dominions Corp Ltd v Brian Pty Ltd (1985) 157 CLR 1 Category: Principal judgment Parties: Nib Proceeding