Accom Finance v Coghlan [2009] NSWSC 759

New South Wales Supreme Court

CITATION : Accom Finance v Coghlan [2009] NSWSC 759

HEARING DATE(S) : 20 July 2009

JUDGMENT DATE : 20 July 2009

JURISDICTION : Equity

JUDGMENT OF : Slattery J at 1

EX TEMPORE JUDGMENT DATE : 20 July 2009

Orders: (1) Leave to proceed is granted pursuant to s 500(2) of Corporations Act 2001against the plaintiff/cross-defendant in liquidation to allow the making of these orders. (2) The settlement between the plaintiff/cross-defendant and first defendant/cross-claimant is approved under s 76(1) Civil Liability Act 2005. DECISION : (3) The statement of claim is dismissed against the first defendant. (4) The cross claim against the first defendant is dismissed. Note the agreement between the parties that each will bear his own costs of the proceedings. (5) The cross-claim between the cross-claimant and the second cross-defendant is dismissed. (6) The cross-claim between the cross-claimant and the third cross-defendant is dismissed. Note the agreement of the parties, that as between the first cross-claimant and the second and third cross-defendants there will be no order as to costs.

CATCHWORDS : EQUITY - Legal incapacity - Approval of settlement between the plaintiff/cross-defendant and first defendant/cross-claimant - Settlement prudent - Weight given to the opinion of counsel and solicitor that settlement is fair and appropriate

Civil Liability Act 2005 Civil Procedure Act 2005 Contracts Review Act 1980 LEGISLATION CITED : Corporations Act 2001 (Cth) Guardianship Act 1987 Protected Estates Act 1983 Trade Practices Act 1974 Trustee and Guardianship Act 2009