Naegeli v Dalton and Schaeffer as Executors of the Estate of the late John Herman Schaeffer (No 2) [2023] NSWSC 626

Supreme Court New South Wales

Medium Neutral Citation: Naegeli v Dalton and Schaeffer as Executors of the Estate of the late John Herman Schaeffer (No 2) [2023] NSWSC 626 Hearing dates: On the papers; submissions received 26 and 31 May, and 5 June 2023 Date of orders: 09 June 2023 Decision date: 09 June 2023 Jurisdiction: Equity - Commercial List Before: Stevenson J Decision: Defendants' liability to be joint and several; interest to accrue on terms specified in guarantee; first defendants to pay 80% of plaintiff's costs; corporate defendants to pay plaintiff's costs Catchwords: GUARANTEE AND INDEMNITY – contract of guarantee – co-guarantors – joint and several liability – consequential orders on primary judgment COSTS – party/party – basis on which interest should accrue – compounding on daily rests – where plaintiff's success against first defendants capped at $500,000 – where plaintiff otherwise successful Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Contracts Review Act 1980 (NSW) Cases Cited: Naegeli v Dalton and Schaeffer as Executors of the Estate of the late John Herman Schaeffer [2023] NSWSC 466 Thallon Mole Group Pty Ltd v Morton [2022] QDC 224 Category: Consequential orders Parties: Patrick Naegeli (Plaintiff) Bettina Dalton and Joanne Alison Schaeffer as Executors of the Estate of the late John Herman Schaeffer (First Defendant) Rasay Pty Limited (Second Defendant) The Footage Company Pty Ltd (Third Defendant) Representation: Counsel: C P O'Neill (Plaintiff) M K Condon SC with D C Price (Defendants)