Aquamore Finance Pty Ltd v Horne [2024] NSWSC 1160

Supreme Court New South Wales

Medium Neutral Citation: Aquamore Finance Pty Ltd v Horne [2024] NSWSC 1160 Hearing dates: 10 September 2024 Date of orders: 12 September 2024 Decision date: 12 September 2024 Jurisdiction: Common Law Before: Harrison AsJ Decision: The defendant is to pay the plaintiff the sum of $2,449,420.76. The Court Orders (1) The defendant pays the plaintiff's costs of the proceedings on an indemnity basis. (2) The defendant pays the plaintiff post judgment interest costs from today at the rate of 20.95%. Catchwords: Money Claim – Guarantee – default – loan agreement Legislation Cited: Australian Consumer Law. s 21, s 237 Australian Securities and Investments Act 2001 (Cth). s 12CB, s 12GM Contracts Review Act 1980 (NSW). s 7 Cases Cited: L'Estrange v F Graucob Ltd (1934) 103 LJKB 730 Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd [2004] HCA 52; 219 CLR 165; 79 ALJR 129; 211 ALR 342 Category: Principal judgment Parties: Aquamore Finance PTY LTD (Plaintiff) Benjamin John Horne (Defendant) Representation: Counsel: P. Cutler (Plaintiff) No Appearance

Solicitors: Independent Legal (Plaintiff) No Appearance File Number(s): 2023/00460151-1

JUDGMENT 1. This judgment involves an order for money to be paid by a guarantor in the sum of $2,002,595.29 arising from a loan agreement in default. 2. The plaintiff Aquamore Finance Pty Ltd ('Aquamore') was represented by A. Cutler of counsel. The defendant, Benjamin John Horne ('Mr Horne') was called three times outside the Court. He did not appear. 3. By way of statement of claim filed 19 December 2023 the plaintiff seeks the following relief, 1. Judgment against the defendant in the sum of $2,002,595.29 to 19 December 2023. 2. Interest on the amount claimed in (1) above from 19 December 2023 at the rate of 20.95% per annum pursuant to the terms of the loan agreement and the guarantee. 3. Interest on the amounts claimed in (1) and (2) above from the date of judgment at the rate of 20.95% per annum pursuant to the terms of the loan agreement and the guarantee. 4. In the alternative to (3) above, interest pursuant to s 100 and or section 101 of the Civil Procedure Act 2005 (NSW). 5. Costs on a full indemnity basis.