National Australia Bank Ltd v Idoport Pty Ltd [2007] NSWSC 1349

New South Wales Supreme Court

CITATION : National Australia Bank Ltd v Idoport Pty Ltd [2007] NSWSC 1349

HEARING DATE(S) : 17/10/07

JUDGMENT DATE : 27 November 2007

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Young CJ in Eq

DECISION : The separate question must be answered "No".

CATCHWORDS : CONTRACT [145]- Contractual set-off- Differs from procedural set-off- Operates as a defence- Whether rival claims must both be liquidated a matter of contract-However both must be due and payable- A claim that is barred from prosecution held not to be capable of set-off.

Civil Procedure Act 2005, s 21 Corporations Act 2001 (Cth), ss 459E, 459P LEGISLATION CITED : Sale of Goods Act 1923, s 54(1) Supreme Court Rules 1970, Pt 15 r 25 (repealed) Uniform Civil Procedure Rules 2005, r 28.2

Bayview Quarries Pty Ltd v Castley Development Pty Ltd [1963] VR 445 Cherry v Boultbee (1839) 4 My & Cr 442; 41 ER 171 Commissioner of Stamp Duties (NSW) v Perpetual Trustee Co Ltd (1929) 43 CLR 247 Fliway Transport Pty Ltd v Soper (1988) 21 NSWLR 19 Francis v Dodsworth (1847) 4 CB 202; 136 ER 482 Langley Constructions (Brixham) Ltd v Wells [1969] 2 All ER 46 Maniotis v Valimi Pty Ltd (2002) 4 VR 386; 169 FLR 291 McDonnell & East Ltd v McGregor (1936) 56 CLR 50 CASES CITED : Mersey Steel & Iron Co v Naylor Benzon & Co (1882) 9 QBD 648 Opal Maritime Agencies Pty Ltd v The Proceeds of Sale of the Vessel MV "Skulptor Konenkov" (2000) 98 FCR 519 Re Application of Keith Bray Pty Ltd (1991) 23 NSWLR 430 Re GEB [1903] 2 KB 340 Re K L Tractors Ltd [1954] VLR 505 Re Moss [1905] 2 KB 307 Smith v Betty [1903] 2 KB 317 Stehar Knitting Mills Pty Ltd v Southern Textile Converters Pty Ltd [1980] 2 NSWLR 514 Sydmar Pty Ltd v Statewise Developments Pty Ltd (1987) 73 ALR 289 Westpac Banking Corp v Eltran Pty Ltd (1987) 14 FCR 541