Challenger Group Holdings Limited v Concept Equity Pty Limited [2005] NSWSC 374

New South Wales Supreme Court

CITATION : Challenger Group Holdings Limited v Concept Equity Pty Limited [2005] NSWSC 374

HEARING DATE(S) : 20/04/05

JUDGMENT DATE : 27 April 2005

JURISDICTION : Equity Division

JUDGMENT OF : Einstein J

DECISION : Conditional stay of proceedings before Supreme Court of New South Wales. Upon condition being satisfied dismiss defendant's motion seeking to stay New South Wales proceedings and alternatively seeking that New South Wales proceedings be transferred to Supreme Court of Victoria under cross-vesting legislation.

CATCHWORDS : Practice and procedure - Parallel proceedings - Stay of proceedings - Cross-vesting application - Principles concerning mode of dealing with cross applications (1) for stay of proceedings and (2) seeking cross-vesting orders - Proceedings commenced by plaintiff in Supreme Court of New South Wales one-day prior to commencement by defendant of proceedings in Supreme Court of Victoria - Claim that New South Wales proceedings amounted to an abuse of process or close to such as brought in circumstances which were unconscionable in order to pre-empt threatened Victorian proceedings - Allegation that plaintiff/plaintiff's solicitors had by correspondence exchange stolen a march on defendant/defendant's solicitors - Equity - Declarations - Negative declarations - Utility

Jurisdiction of Courts (Cross-Vesting) Act 1987 (NSW). LEGISLATION CITED : Service and Execution of Process Act 1992 (C'th)

Asher & Ors v Goldman Sachs & Co & Ors (Waller J, Queen's Bench, 21 October 1991, unreported) Bankinvest AG v Seabrook (1988) 14 NSWLR 711 Bass v Permanent Trustee Co Ltd (1999) 198 CLR 334 BHP Billiton Ltd v Schultz [2004] HCA 61 Brooker v Bell [1989] 1 Lloyd's Rep 516 Camilla Cotton Oil Co v Granadex SA [1976] 2 Lloyd's Rep 10 Clay, In re; [1919] 1 Ch 66 Commonwealth of Australia v Cockatoo Dockyard Pty Ltd [2003] NSWCA 192 CSR Ltd v Cigna Insurance Australia Ltd (1997) 189 CLR 345 David Leahey (Aust) Pty Limited v Mcpherson's Limited [1991] 2 VR 367 Dyson v Attorney-General [1911] KB 410 First National Bank of Boston v Union Bank of Switzerland [1990] 1 Lloyd's Rep 32 Greinert v Jarrett [2004] NSWSC 209 Guaranty Trust Company of New York v Hannay & Company [1915] 2 KB 536 CASES CITED : Hughes Motor Service Pty Ltd v Wang Computer Pty Ltd (1978) 35 FLR 346 I E Du Pont de Nemours v Agnew (No 2) [1988] 2 Lloyd's Rep 240 L & W Developments Pty Ltd v Della [2003] NSWCA 140 McHenry v Lewis (1882) 22 Ch D 397 McKinnon v Adams [2003] VSC 116 Meadows Indemnity Co Ltd v Insurance Corporation of Ireland Plc [1989] 2 Lloyd's Rep 298 Messier-Dowty Ltd v Sabena SA [2000] 1 WLR 2040 Minister of State for Employment, Workplace Relations and Small Business v Community and Public Sector Union (2001) 109 FCR 303 New Hampshire Insurance Co v Aerospace Finance Ltd [1998] 2 Lloyd's Rep 539 Pegasus Leasing Ltd v Cadoroll Pty Ltd (1996) 59 FCR 152 Saipem SpA v Dredging V02 BV & Anor [The Volvox Hollandia] [1988] 2 Lloyd's Rep 361 Sohio Supply Co v Gatoil (USA) Inc [1989] 1 Lloyd's Rep 588 Spiliada Maritime Corporation v Cansulex Ltd [1987] AC 460 Sterling Pharmaceuticals Pty Ltd v Boots Company (Australia) Pty Ltd (1992) 34 FCR 287 Voth v Manildra Flour Mills Pty Ltd (1990) 171 CLR 538