Graeme Webb Investments Pty Limited v St George Partnership Banking Limited [2001] NSWCA 93

(2001) 38 ACSR 282 Reported Decision : [2001] ANZ ConvR 550 [2001] ACL Rep 220 NSW 4

New South Wales Court of Appeal

CITATION : Graeme Webb Investments Pty Limited v St George Partnership Banking Limited [2001] NSWCA 93 revised - 04/05/2007 FILE NUMBER(S) : CA 40682/99 HEARING DATE(S) : 21/02/01, 22/02/01 JUDGMENT DATE : 12 April 2001

PARTIES : Graeme Webb Investments Pty Limited (Appellant) St George Partnership Banking Limited (Respondent) JUDGMENT OF : Sheller JA at 1; Fitzgerald JA at 2; Ipp AJA at 101

LOWER COURT JURISDICTION : Supreme Court LOWER COURT 11201/93 FILE NUMBER(S) : LOWER COURT Newman J JUDICIAL OFFICER :

COUNSEL : P.M. Biscoe QC / R.G. Kaye (Appellant) M.J. Slattery QC / C.R. Newlinds / H.W. Stowe (Respondent) SOLICITORS : Robilliard & Robilliard (Appellant) Landerer and Company (Respondent) CATCHWORDS : Guarantee - appointment of receiver and manager by secured creditor - debtor's principal asset subject to hire purchaser agreement in favour of another party - principal asset seized by assignee from hire purchaser company - debtor's business terminated - secured creditor's enforcement of guarantee against surety - conduct of receiver and secured creditor - cross-claim by surety for damages and/or equitable compensation - D LEGISLATION CITED : Trade Practices Act 1974 (Cth) Corporations Law Ankar Pty Ltd v National Westminster Finance (Australia) Ltd (1987) 162 CLR 549 Black v Ottoman Bank (1862) 15 Moo PCC 472 CASES CITED: Buckeridge v Mercantile Credits Ltd (1981) 147 CLR 654 Gosling v Gaskell (1896) 1 QB 669 Mailman v Challenge Bank Ltd (1991) 5 BPR 97400 Williams v Frayne (1937) 58 CLR 710 DECISION : Appeal dismissed with costs