NSW Caselaw
Reported Decision: 79 ACSR 544
New South Wales Court of Appeal
CITATION: NA Investments Holdings Pty Limited v Perpetual Nominees Limited [2010] NSWCA 210
HEARING DATE(S): 11 August 2010
JUDGMENT DATE: 30 August 2010
JUDGMENT OF: Beazley JA at 1; Handley AJA at 2; Lindgren AJA at 3
DECISION: Application for leave to appeal is dismissed with costs.
CATCHWORDS: CORPORATIONS - application to set aside statutory demand - company a guarantor of money owing by its subsidiary - limitation on guarantor's liability by reference to certain assets - statutory demand for whole of money owing - whether limitation provision meant that guarantor did not owe a debt due and payable for whole of money owing - whether creditor or company bore onus of proving that limitation provision was enlivened - whether affidavit annexing contract but not drawing attention to limitation provision in it satisfied s 459(3) of the Corporations Act 2001 (Cth).
Corporations Act 2001 (Cth) LEGISLATION CITED: Federal Court (Corporations) Rules 2000 Federal Court Rules 1979 Supreme Court Act 1970 (NSW)
Arcade Badge Embroidery Co Pty Ltd v Deputy Commissioner of Taxation [2005] ACTCA 3; (2005) 157 ACTR 22 Energy Equity Corporation Ltd v Sinedie Pty Ltd (2001) 166 FLR 179; [2001] WASCA 419 Arcade Badge Embroidery Co Pty Ltd v Deputy Commissioner of Taxation [2005] ACTCA 3; (2005) 157 ACTR 22 Callite Pty Ltd v Adams [2001] NSWSC 52; Canon Australia Pty Ltd v Young Bros Pty Ltd [2009] NSWSC 842 David Grant & Co Pty Ltd v Westpac Banking Corporation (1995) 184 CLR 265 Elm Financial Services Pty Ltd v Macdougall [2004] NSWSC 560 Energy Equity Corporation Ltd v Sinedie Pty Ltd (2001) 166 FLR 179; [2001] WASCA 419 Graywinter Properties Pty Ltd v Gas & Fuel Corporation Superannuation Fund (1996) 70 FCR 452 Hansmar Investments Pty Limited v Perpetual Trustee Co Ltd [2007] NSWSC 103 CASES CITED: Jian Xing Knitting Factory v Scasa Pty Ltd [2004] SASC 152 Meadowfield Pty Limited v Gold Coast Holdings Pty Limited [2001] WASCA 360 NA Investments Holdings Pty Ltd v Perpetual Nominees Limited [2010] NSWSC 248 NA Investments Holdings Pty Ltd v Perpetual Nominees Limited [2010] NSWSC 373 POS Media Online Ltd v B Family Pty Ltd [2003] NSWSC 147 Process Machinery Australia Pty Ltd v ACN 057 260 590 Pty Ltd [2002] NSWSC Remuneration Data Base Pty Limited v Pauline Goodyear Real Estate Pty Ltd [2007] NSWSC 59 Saferack Pty Limited v Marketing Heads Australia Pty Ltd [2007] NSWSC 1143 Takchi Bros Constructions Pty Limited v Woods [2010] NSWSC 115 Tatlers.com.au Pty Ltd v Davis (2007) 213 FLR 109; [2007] NSWSC 835 Tennant Limited v Flomin Inc [2009] NSWSC 1246 Tokich Holdings Pty Ltd v Sheraton Constructions (NSW) Pty Ltd (in liq) (2004) 185 FLR 130; [2004] NSWSC 527
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