Surf Road Nominees Pty Limited & Ors v Tass James & Ors [2004] NSWSC 223

New South Wales Supreme Court

CITATION : Surf Road Nominees Pty Limited & Ors v Tass James & Ors [2004] NSWSC 223 HEARING DATE(S) : 18/03/04 JUDGMENT DATE : 1 April 2004

JURISDICTION: Equity Division Commercial List JUDGMENT OF : Einstein J DECISION : Decision given on outstanding issues including costs as between certain parties.

CATCHWORDS : Guarantee - Release of security - When constituting discharge of guarantee - Calculation issues - Appropriate orders - Costs LEGISLATION CITED : Supreme Court Rules Supreme Court Act (1970) NSW ABB Engineering Construction Pty Limited v Abigroup Contractors Pty Limited [2003] NSWSC 867 Buckeridge v Mercantile Credits Limited (1981) 147 CLR 654 Mahoney v McManus (1981) 55 ALJR 673 Mobile Innovations Limited v Vodafone Pacific Limited [2003] NSWSC 423 Oshlack v Richmond River Council (1998) 193 CLR 72 CASES CITED : Rushcutters Bay Smash Repairs Pty Ltd v H McKenna Netmakers Pty Ltd [2003] NSWSC 670 Smith v Wood [1929] 1 Ch 14 The Bank of Victoria v Smith (1894) 20 VLR 450 Thiess Watkins White Construction Limited (in liq) v Witan Nominees (1985) Pty Limited [1992] 2 Qd R 452 Todorovic v Moussa (2001) 53 NSWLR 463 Tringali v Stewardson Stubbs & Collett Ltd (1966) 66 SR (NSW) 335 Surf Road Nominees Pty Ltd ACN 087 719 060 (First Plaintiff) Chris Burke & Co Pty Ltd ACN 062 554 849 (Second Plaintiff) IG Martyn Real Estate Pty Ltd ACN 001 210 304 (Third Plaintiff) WIT Investments Pty Ltd ACN 087 762 856 (Fourth Plaintiff} DJZ Construction Pty Limited ACN 087 784 601 (Fifth Plaintiff) Tass Alexander James (First Defendant) Janet Margaret James (Second Defendant) New South Head Road Nominees Pty Ltd CAN 088 322 472 (Third Defendant) First Cross Claim Tass Alexander James (First Cross-Claimant) Janet Margaret James (Second Cross-Claimant) New South Head Road Nominees Pty Ltd (Third Cross-Claimant) Surf Road Nominees Pty Ltd (First Cross-Defendant) Chris Burke & Co Pty Ltd (Second Cross-Defendant) I G Martyn Real Estate Pty Ltd (Third Cross-Defendant) PARTIES : W I T Investments Pty Ltd (Fourth Cross-Defendant) D J Z Construction Pty Ltd (Fifth Cross-Defendant) Michael Christian (Sixth Cross Defendant) Katherine Christian (Seventh Cross Defendant) Cottenham Nominees Pty Ltd (Eighth Cross-Defendant) Vincent Palmieri (Ninth Cross-Defendant) Terry Ian Wilson (Tenth Cross-Defendant) Andrew Peter Mortimer (Eleventh Cross-Defendant) Second Cross Claim [Settled] Michael Christian (First Cross-Claimant) Katherine Christian (Second Cross-Claimant) Cottenham Nominees Pty Limited (Third Cross-Claimant) Tass Alexander James (First Cross-Defendant) Janet Margaret James (Second Cross-Defendant)