Bank of Western Australia Limited v O'Brien [2012] NSWSC 456

Supreme Court New South Wales

Medium Neutral Citation: Bank of Western Australia Limited v O'Brien [2012] NSWSC 456 Hearing dates: 02/05/2012 Decision date: 02 May 2012 Jurisdiction: Equity Division - Commercial List Before: McDougall J Decision: Plaintiff entitled to summary judgment. Parties to bring in orders. Catchwords: GUARANTEE AND INDEMNITY - enforcement of guarantees - whether bank entitled to judgment in accordance with guarantees - whether suspension of rights clauses effective - whether defendants can seek relief under s 12GM of the Australian Securities and Investments Commission Act 2001 (Cth) - whether, as a matter of construction, suspension clauses preclude the bringing of the cross-claims relying on federal law. Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Cases Cited: Agar v Hyde (2000) 201 CLR 552 Bitannia Constructions Pty Limited v Parkline Constructions Pty Limited (2006) 67 NSWLR 9 Capital Finance Australia Limited v Davies [2002] NSWSC 1146 Capital Finance Australia Limited v Air Star Aviation Pty Limited (2004) 1 Qd R 122 Daewoo Australia Pty Limited v Porter Crane Imports Pty Limited [2000] QSC 950 Dey v Victorian Railway Commissioners (1949) 78 CLR 62 and Esanda Finance Corporation Limited v Peat Marwick Hungerford (1997) 188 CLR 241 General Steel Industries Inc v Commissioner for Railways (New South Wales) (1964) 112 CLR 125 St George Bank Limited v Field [2007] NSWSC 902 Webster v Lampard (1993) 177 CLR 598 Category: Principal judgment Parties: Bank of Western Australia Limited (ACN 050 494 454) (Plaintiff/First Cross-Defendant) Rory Francis O'Brien (First Defendant/First Cross-Claimant) Bakota Holdings Pty Ltd (ACN 050 060 583) (Second Defendant/Second Cross-Claimant) Representation: Counsel: P J Dowdy (Plaintiff/First Cross-Defendant) R A Yezerski (Defendants/First and Second Cross-Claimants) Solicitors: Ashurst Australia (Plaintiff/First Cross-Defendant) Eakin McCaffery Cox (Defendants/First and Second Cross-Claimants) File Number(s): 2011/229400