NSW Caselaw
New South Wales Supreme Court
CITATION : RHG Mortgage Securities Pty Limited & Ors v Elektra Purchase No. 19 Limited [2009] NSWSC 258
HEARING DATE(S) : 16/03/09 - 20/03/09, 23/03/09
JUDGMENT DATE : 8 April 2009
JURISDICTION : Equity Division Commercial List
JUDGMENT OF : Einstein J
DECISION : Parties to bring in short minutes of order.
CATCHWORDS : Contracts - Subscription Agreement pursuant to which Notes in the sum of $750,000,000 were issued - Construction - Rectification - Principles - Right to rectification of Subscription Agreement a chose in action capable of assignment - Whether Indemnity Amounts and Interest Amounts were calculated in good faith and in a commercially reasonable manner as required by contractual documents - Duty of good faith does not require a party to subordinates its own interest so long as the pursuit its of those interests does not entail unreasonable interference with the enjoyment of a benefit conferred by the express contractual terms - Whether Defendant incurred any "currency exchange and basis swap costs associated with the Note Subscriber funding its holding" of the notes "using financial accommodation raised in Euros" - Restitution-Jones v Dunkel-Meaning of "currency exchange and basis swap costs"
LEGISLATION CITED : Corporations Act 2001 (Cth)
CATEGORY : Principal judgment
Adler v Australian Securities and Investments Commission [2003] NSWCA 131 Australasian Performing Right Association Ltd v Austarama Television Pty Ltd [1972] 2 NSWLR 467 Baker v Paine (1750)1 Ves Sen 456; 27 ER 1140 Ball v Storie (1823) 1 Sim & St 210 Bishopsgate Insurance Australia Ltd v Commonwealth Engineering (NSW) Pty Ltd [1981] 1 NSWLR 429 Brambles Holdings Ltd v Bathurst City Council (2001) 53 NSWLR 153 Byrne v Australian Airlines Ltd (1995) 185 CLR 410 Codelfa Construction Pty Ltd v State Rail Authority of New South Wales (1982) 149 CLR 337 Commissioner of Stamp Duties (NSW) v Carlenka Pty Ltd (1995) 41 NSWLR 329 Farrow Mortgage Services Pty Ltd (in liq) v Slade and Nelson (1996) 38 NSWLR 636 Fowler v Fowler (1859) 4 De G & J 250; 45 ER 97 Frederick E Rose (London) Ltd v William H Pim Junior & Co Ltd [1953] 2 QB 450 Green v AMP Life Ltd [2005] NSWSC 370; (2005) 13 ANZ Ins Cas 90-124 CASES CITED : Hooker Town Developments Pty Ltd and Anor v The Director of War Service Homes (1973) 47 ALJR 320 Irnham v Child (1781) 1 Bro CC 92 Jones v Dunkel (1959) 101 CLR 298 Maralinga Pty Ltd v Major Enterprises Pty Ltd (1973) 128 CLR 336 Marquis of Townshend v Stangroom (1801) 6 Ves Jun 328 Masterton Homes Pty Limited v Palm Assets Pty Limited & Ors [2008] NSWSC 274 Mortimore v Shortall (1842) 2 Dr & War 363 New South Wales Medical Defence Union Ltd v Transport Industries Insurance Co Ltd (1986) 6 NSWLR 740 Overlook v Foxtel [2002] NSWSC 17 Pukallus v Cameron (1982) 180 CLR 447 Ryledar Pty Ltd v Euphoric Pty Ltd (2007) Aust Contract R 90-254; [2007] NSWCA 65 Slee v Warke (1949) 86 CLR 271 Stormriders Pty Ltd v Copperart Pty Ltd [2004] NSWSC 809 Toll (FCGT) Pty Ltd v Alphapharm Pty Ltd (2004) 219 CLR 165 Westland Savings Bank v Hancock [1987] 2 NZLR 21
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