Prynew Pty Limited v Piling Contractors (Qld) Pty Limited & Anor [2005] NSWSC 1211

New South Wales Supreme Court

CITATION : Prynew Pty Limited v Piling Contractors (Qld) Pty Limited & Anor [2005] NSWSC 1211

HEARING DATE(S) : 25 November 2005

JUDGMENT DATE : 25 November 2005

JURISDICTION : EQUITY DIVISION

JUDGMENT OF : Lloyd AJ

DECISION : 1. The first defendant by itself, its servants and agents, be restrained from calling upon the bank guarantee issued by the second defendant in favour of the first defendant dated 16 October 2001 in the amount of $162,170.00 (the "bank guarantee") until the final determination of the Supreme Court proceedings No. 55019 of 2004 in the Supreme Court of New South Wales, Technology and Construction List (the "Supreme Court proceedings"). 2. The second defendant, by itself, its servants and agents, be restrained from releasing to the first defendant, its servants and agents, funds pursuant to the bank guarantee until final determination of the Supreme Court proceedings. 3. The first defendant pay the plaintiff's costs.

CATCHWORDS : BUILDING AND ENGINEERING CONTRACTS: - adjudication determination under Building and Construction Industry Security of Payment Act 1999 (NSW) - security for payment - continuation of legal proceedings - INTERPRETATION: - general rules of construction of instruments

Building and Construction Industry Security of Payment Act 1999 (NSW) s 3, s 23 and s 32 LEGISLATION CITED : Interpretation Act 1987 (NSW) s 30

CASES CITED : Falgat Constructions Pty Ltd v Equity Australia Corporation Pty Ltd (2005) 62 NSWLR 385

Prynew Pty Limited ACN 087 489 352 - Plaintiff Piling Contractors (Qld) Pty Limited ACN 010 448 334 - First Defendant PARTIES : National Australia Bank Limited ACN 004 044 937 - Second Defendant