Ingot Capital Investments Pty Ltd & Ors v Macquarie Equity Capital Markets Pty Ltd & Ors [2004] NSWSC 406

New South Wales Supreme Court

CITATION : Ingot Capital Investments Pty Ltd & Ors v Macquarie Equity Capital Markets Pty Ltd & Ors [2004] NSWSC 406 HEARING DATE(S) : 29 April 2004 JUDGMENT DATE : 29 April 2004

JURISDICTION: Equity Division Commercial List JUDGMENT OF : Bergin J DECISION : Leave granted

CATCHWORDS : [Procedure] - Leave to proceed pursuant to s 500 of the Corporations Act 2001 to bring a cross claim against a company in liqudation. LEGISLATION CITED : Corporations Act 2001 BHG Nominees Pty Ltd v Ellis Young Investments Pty Ltd and Ors (1998) 16 ACLC 1539 Capita Financial Group Ltd v Rothwells Ltd (No. 2) (1989) 15 ACLR 348 CASES CITED : Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd & Ors (2003) 45 ACSR 224 Meehan v Stockmans Australian Cafe (Holdings) Pty Ltd 22 ACSR 123 Oglivie-Grant v East (liquidator of Gordon Grant and Grant Pty Ltd) [1983] 7 ACLR 669 PARTIES : Macquarie Equity Capital Markets Ltd, Macquarie Equities Ltd and Macquarie Bank Limited (Applicants) Newcap Reinsurance Ltd (in liquidation) (Respondent) FILE NUMBER(S) : SC 50169/01 COUNSEL : I Jackman SC (Applicants) B Coles QC and L McCallum (Respondent) SOLICITORS : Mallesons Stephen Jaques (Applicants) Deacons (Respondent)

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION COMMERCIAL LIST

BERGIN J

29 APRIL 2004

50169/01 INGOT CAPITAL INVESTMENTS PTY LTD & ORS V MACQUARIE EQUITY CAPITAL MARKETS LTD & ORS

JUDGMENT

1 This is another interlocutory application in this large and complex litigation seeking to join a further party to the proceedings. The issues in this litigation have been set out in a number of judgments of judges in this List and I do not intend to repeat them save to say that they have been further expanded by the leave granted by McDougall J in November 2003 for the plaintiffs to file a Fifth Further Amended Summons (the Amended Summons).