Franks v Moribund Pty Limited (formerly Equitiloan Securities Pty Ltd) (in liquidation) [2011] NSWCA 216

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Franks v Moribund Pty Limited (formerly Equitiloan Securities Pty Ltd) (in liquidation) [2011] NSWCA 216 Hearing dates: 20 July 2011 Decision date: 20 July 2011 Before: Hodgson JA at [1], [43]; McColl JA at [41]; Campbell JA at [42] Decision: Appeal dismissed with costs. [Note: The Uniform Civil Procedure Rules 2005 provide (Rule 36.11) that unless the Court otherwise orders, a judgment or order is taken to be entered when it is recorded in the Court's computerised court record system. Setting aside and variation of judgments or orders is dealt with by Rules 36.15, 36.16, 36.17 and 36.18. Parties should in particular note the time limit of fourteen days in Rule 36.16.] Catchwords: PROCEDURE - Undertaking to the court - Application to enforce - Construction of undertaking - Relevance of surrounding circumstances. Cases Cited: Bentley v Gaisford [1977] QB 627 (CA) Equititrust Ltd & Anor v Franks [2009] NSWCA 128 Franks v Equitiloan Securities Pty Ltd [2008] NSWSC 33 Franks v Equitiloan Securities Pty Ltd (No 2) [2008] NSWSC 456 Franks v Equitiloan Securities Pty Ltd [2010] NSWSC 693 Goodwin v Duggan (1996) 41 NSWLR 158 Kirkpatrick v Kotis [2004] NSWSC 1265; (2004) 62 NSWLR 567 NRMA v Whitlam [2007] NSWCA 81 Total Oil Products (Australia) Pty Limited v Robinson [1970] 1 NSWR 701 Texts Cited: O'Donovan & Phillips, Modern Contract of Guarantee par 5.420 Category: Principal judgment Parties: appellant: Phillip Maurice FRANKS first respondent: MORIBUND PTY LTD (formerly Equitiloan Securities Pty Ltd) (in liquidation) second respondent: EQUITITRUST LIMITED (formerly Equitiloan Limited) Representation: appellant: M W Sneddon/ C E Alexander second respondent: J Hogan-Doran appellant: DTA Lawyers second respondent: Tucker & Cowen Solicitors File Number(s): 2010/236989 Decision under appeal Citation: Franks v Equitiloan Securities Pty Ltd [2010] NSWSC 693 Date of Decision: 2010-06-24 00:00:00 Before: Pembroke J File Number(s): 2000/00037510