Redowood Pty. Limited v Link Market Services Pty. Limited (formerly known as ASX Perpetual Registrars Limited) [2007] NSWCA 286

New South Wales Court of Appeal

CITATION: Redowood Pty. Limited v Link Market Services Pty. Limited (formerly known as ASX Perpetual Registrars Limited) [2007] NSWCA 286

HEARING DATE(S): 9 October 2007

JUDGMENT DATE: 18 October 2007

JUDGMENT OF: Mason P at 1; Hodgson JA at 2; Bryson AJA at 55

DECISION: 1. Appeal allowed. 2. Orders below set aside, and in lieu thereof Notice of Motion dismissed, with ASX-Perpetual to pay Redowood's costs of the motion and of the decision of the separate question. 3. ASX-Perpetual to pay Redowood's costs of the appeal, and to have a certificate under the Suitors' Fund Act if otherwise eligible.

CATCHWORDS: PRACTICE - ESTOPPEL - Anshun estoppel - Abuse of process - Earlier proceedings alleging contract to purchase plaintiff's shares - Defendant puts on cross-claim against intermediary - Cross-claim stayed and intermediary takes no further part in proceedings - After earlier proceedings lost, plaintiff brings proceedings against intermediary alleging negligence - Whether plaintiff acted reasonably - Possibility of inconsistent decisions - Whether later proceedings should be dismissed.

PARTIES: Redowood Pty. Limited - appellant Link Market Services Pty. Limited (formerly known as ASX Perpetual Registrars Limited) - respondent

FILE NUMBER(S): CA 40302/06

COUNSEL: Mr. V. Gray for the appellant Mr. A. McGrath with Mr. J. Williams for respondent

SOLICITORS: Gye Associates, Sydney for appellant Henry Davis York, Sydney for respondent

LOWER COURT JURISDICTION: Supreme Court - Equity Division

LOWER COURT FILE NUMBER(S): SC50062/04

LOWER COURT JUDICIAL OFFICER: Rein AJ

LOWER COURT DATE OF DECISION: 26 April 2006