Commonwealth Bank of Australia & Anor v John Horvat & Ors [2012] NSWSC 243

Supreme Court New South Wales

Medium Neutral Citation: Commonwealth Bank of Australia & Anor v John Horvat & Ors [2012] NSWSC 243 Hearing dates: 16 March 2012 Decision date: 16 March 2012 Jurisdiction: Common Law Before: Adamson J Decision: (1) In respect of the first defendant: (a) judgment in favour of the first plaintiff in the sum of $2,337,610.88, which includes interest accrued in accordance with the terms of the First Defendant's Guarantee from 28 February 2011 to 15 March 2012; (b) judgment in favour of the first plaintiff in the sum of $427,718.06, which includes interest accrued in accordance with the terms of the VLOC Facility from 28 February 2011 to 15 March 2012; and (c) judgment in favour of the second plaintiff in the sum of $75,691.35, which includes interest accrued in accordance with the terms of the First Defendant's CBFC Guarantee from 28 February 2011 to 15 March 2012. (2) In respect of the third defendant: (a) judgment in favour of the first plaintiff in the sum of $2,337,610.88, which includes interest accrued in accordance with the terms of the Third Defendant's Guarantee from 28 February 2011 to 15 March 2012; (b) judgment in favour of the first plaintiff in the sum of $200,000 in accordance with the terms of the Third Defendant's VLOC Guarantee; (c) an order that the third defendant gives the first plaintiff possession of the property known as 59 Shepherd Street, Colyton NSW 2760 registered with folio identifier 20/244431 (Colyton Property); and (d) leave to issue a writ of possession in respect of the Colyton Property. (3) (3) An order pursuant to section 101 of the Civil Procedure Act 2005 that interest be payable on the judgment amounts obtained by the first plaintiff against the first defendant and the third defendant at the prescribed rate from the date of judgment on so much of the money as is from time to time unpaid. (4) (4) An order pursuant to section 101 of the Civil Procedure Act 2005 that interest be payable on any judgment obtained by the second plaintiff against the first defendant at the prescribed rate from the date of judgment on so much of the money as is from time to time unpaid. (5) Costs as against the first and third defendants on an indemnity basis. Catchwords: PRACTICE AND PROCEDURE - application for summary judgment - whether any arguable defence or issue to be tried Legislation Cited: - Uniform Civil Procedure Rules 2005 Cases Cited: - Gomba Holdings (UK) Limited v Minories Finance Limited (No. 2) [1993] Ch 171 Category: Principal judgment Parties: Commonwealth Bank of Australia (First Plaintiff) CBFC Limited (Second Plaintiff) John Horvat (also known as John Palasty, First Defendant) Mycorp Properties Pty Ltd (Second Defendant) Ilona Horvat (Third Defendant) Representation: Counsel: J Hynes (Plaintiffs) D Currie (First and Third Defendants) Solicitors: Henry Davis York (Plaintiffs) Proctor and Associates (First and Third Defendants) File Number(s): 2011/00070236