Keybridge Capital Limited v Molopo Energy Limited [2024] NSWSC 779

Supreme Court New South Wales

Medium Neutral Citation: Keybridge Capital Limited v Molopo Energy Limited [2024] NSWSC 779 Hearing dates: 12 June 2024 Date of orders: 26 June 2024 Decision date: 26 June 2024 Jurisdiction: Equity - Commercial List Before: Nixon J Decision: (1) The proceeding be permanently stayed. (2) The Notice of Motion filed by the Plaintiff on 12 June 2024 be dismissed. (3) The Plaintiff pay the Defendant's costs. Catchwords: CIVIL PROCEDURE – application by defendant for permanent stay – whether res judicata or issue estoppel where claims in earlier proceedings dismissed by consent without adjudication on the merits – whether Anshun estoppel or abuse of process – whether claim for loss is a claim for reflective loss which should be summarily dismissed or struck out – whether proposed amendment discloses a reasonable cause of action – permanent stay granted Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth), s 12DA(1) Competition and Consumer Act 2010 (Cth), Sch 2 – Australian Consumer Law, s 18 Civil Procedure Act 2005 (NSW), ss 56-58 Corporations Act 2001 (Cth), ss 180, 181, 182, 232, 233, 237, 247A, 674, 793C, 1041E, 1041H, 1041I, 1101B, 1309, 1317H, 1317HA, 1324 ASX Listing Rules, rr 3.1, 11.1, 11.2 Cases Cited: Aon Risk Services Australia Ltd v Australian National University (2009) 239 CLR 175 Australian Competition and Consumer Commission v Australian Safeway Stores Pty Ltd (No 2) (2001) 119 FCR 1; [2001] FCA 1861 Benton v QBE Worker Compensation (NSW) Ltd [2015] NSWCA 101 Blair & Perpetual Trustee Co Ltd v Curran ('Adams' Will) (1939) 62 CLR 464; [1939] HCA 23 Canale v GW & R Mould Pty Ltd [2018] VSCA 346 Carey v Freehills [2013] FCA 954 Central Coast Council v Norcross Pictorial Calendars Pty Ltd [2021] NSWCA 75 Chamberlain v Deputy Commission of Taxation (ACT) (1988) 164 CLR 502; [1998] HCA 21 Clayton v Bant (2020) 272 CLR 1; [2020] HCA 44 Garner v Central Innovation Pty Ltd [2022] FCAFC 64 GLJ v The Trustees of the Roman Catholic Church for the Diocese of Lismore [2023] HCA 32 Harris v Milfull [2002] FCAFC 442 Isaacs v The Ocean Accident and Guarantee Corporation Ltd (1957) SR (NSW) 69 Jackson v Goldsmith (1950) 81 CLR 446; [1950] HCA 22 Johnson v Gore Wood & Co (a firm) [2002] 2 AC 1 Johnstone v HIH Limited [2004] FCA 190 Kinch v Walcott [1929] AC 482 Macquarie Bank Ltd v National Mutual Life Association of Australia Ltd (1996) 40 NSWLR 543 Mandeville v Better Lending Pty Ltd [2021] SASCA 28 Mould v Canale [2017] VSC 793 Outram v Morewood (1803) 3 East 346; 102 ER 630 Pollnow v Armstrong [2000] NSWCA 245 Port of Melbourne Authority v Anshun Pty Ltd (1981) 147 CLR 589; [1981] HCA 45 Re South American and Mexican Company; Ex parte Bank of England [1895] 1 Ch 37 Rogers v The Queen (1994) 181 CLR 251; [1994] HCA 42 Spencer v Commonwealth of Australia (2010) 241 CLR 118; [2010] HCA 28 The Bellcairn (1885) 10 PD 161 Timbercorp Finance Pty Ltd (in liq) v Collins; Timbercorp Finance Pty Ltd (in liq) v Tomes (2016) 259 CLR 212; [2016] HCA 44 Tomlinson v Ramsey Food Processing Pty Ltd (2015) 256 CLR 507; [2015] HCA 28 Trawl Industries of Australia Pty Ltd (in liq) v Effem Foods Pty Ltd (1992) 36 FCR 406; [1992] FCA 272 Trustees for the Roman Catholic Church for the Diocese of Bathurst v Hine [2016] NSWCA 213 UBS AG v Tyne (2018) 265 CLR 77; [2018] HCA 45 Zetta Jet Pte Ltd v Ship Dragon Pearl (No 2) (2018) 265 FCR 290; [2018] FCAFC 132 Texts Cited: PA Keane, Spencer Bower and Handley: res judicata (6th ed, 2024, LexisNexis Butterworths) Category: Procedural rulings Parties: Keybridge Capital Limited (Plaintiff) Molopo Energy Limited (Defendant) Representation: Counsel: A Broadfoot KC with C Middleton (Plaintiff) R Scuby SC with L Hulmes (Defendant)