Yusen Daly Smith International Pty Ltd v Smith [1999] NSWSC 450

New South Wales Supreme Court CITATION : Yusen Daly Smith International Pty Ltd v Smith [1999] NSWSC 450 CURRENT JURISDICTION : Equity FILE NUMBER(S) : 2400/97 HEARING DATE(S) : 18 June; 6-8 October 1998 JUDGMENT DATE : 13 May 1999

Yusen Daly Smith International Pty Ltd (In Liq) (P1) PARTIES : Richard Graham Kent Binet (P2) Thomas Edwin Curtis Smith (D1) John D Green (D2) JUDGMENT OF : Hamilton J

A W Street SC and S Emmett (P1 & 2) COUNSEL : M J Neil QC and R Cameron (D1) J Baird, Solicitor (D2) Blake Dawson Waldron (P1 & 2) SOLICITORS : McLaughlin & Riordan (D1) Kemp Strang & Chippendall (D2) CATCHWORDS : ESTOPPEL [6] - Former adjudication - Judgment Inter Partes - Res Judicata distinguished from Issue Estopel and Anshun Doctrine - Generally; GUARANTEE AND INDEMNITY [33] - Rights of surety - Against creditor - Subrogation to security held by creditor - When arising; MORTGAGES [87] - Costs - Mortgage stipulates solicitor/client basis - Costs payable unless unreasonably incurred. ACTS CITED : Law Reform (Miscellaneous Provisions) Act 1965 s 3 Aldrich v Cooper 11 (1803) 8 Ves Jun 382 Australasian Conference Association Ltd v Mainline Constructions Pty Ltd (In liq) (1978) 141 CLR 335 Gomba Holdings (UK) Ltd v Minories Finance Ltd [1993] Ch 171 CA Henderson v Henderson (1843) 3 Hare 100 at 115 67 ER 313 CASES CITED : Kern Corporation Ltd v Walter Reid Trading Pty Ltd (1987) 163 CLR 164 Macquarie Bank Ltd v National Mutual Life Association of Australia Ltd (1996) 40 NSWLR 543 McColl's Wholesale Pty Ltd v State Bank of New South Wales [1984] 3 NSWLR 365 Port of Melbourne Authority v Anshun Pty Ltd (1981) 147 CLR 589 Sandtara Pty Ltd v Abigroup Ltd (1997) 42 NSWLR 5 Sydney Turf Club v Crowley [1971] NSWLR 724 DECISION : Some liabilities within security, others not.