Sydney Concrete & Contracting Pty Limited & Anor v BNP Paribas Equities (Australia) Limited & Anor [2005] NSWSC 408

New South Wales Supreme Court

CITATION : Sydney Concrete & Contracting Pty Limited & Anor v BNP Paribas Equities (Australia) Limited & Anor [2005] NSWSC 408

HEARING DATE(S) : 04.04.05; 05.04.05

JUDGMENT DATE : 29 April 2005

JUDGMENT OF : Nicholas J

DECISION : Para 35

CATCHWORDS : EQUITY - appropriation - whether an appropriation of payment took place - whether appropriation communicated - whether open to creditor to change position - rule in Clayton's case

Bridges v Australian Consolidated Press (1967) 70 SR NSW 52 Cory Brothers and Company v Owners of Turkish Steamship "Mecca"; the "Mecca" (1897) AC 286 Deeley v Lloyds Bank Limited [1912] AC 756 CASES CITED : Devaynes v Noble (Clayton's Case) (1816) 1 Mer 572 Grant v Downs (1976) 135 CLR 674 Seymour v Pickett [1905] 1 KB 715 Smith v Betty [1903] 2 KB 317

Sydney Concrete & Contracting Pty Limited - First Plaintiff/First Cross-Defendant Sydney Concrete & Contracting Pty Limited as Trustee for the Sydney Concrete & Contracting Superannuation Fund - Second Plaintiff/Second Cross-Defendant PARTIES : BNP Paribas Equities (Australia) Limited - First Defendant/First Cross-Claimant BNP Paribas Equities Private (Australia) Limited - Second Defendant/Second Cross-Claimant

FILE NUMBER(S) : SC 50185/01

T Hall/M Lynch - Plaintiffs/Cross-Defendants COUNSEL : R Kaye SC - Defendants/Cross-Claimants

Youngs Attorneys - Plaintiffs/Cross-Defendants SOLICITORS : Piper Alderman - Defendants/Cross-Claimants

LOWER COURT JURISDICTION :

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