GE Commercial Corporation (Australia) Pty Ltd v Nichols as Trustee of Bankrupt Estate of Lymn [2012] NSWSC 562

Supreme Court New South Wales

Medium Neutral Citation: GE Commercial Corporation (Australia) Pty Ltd v Nichols as Trustee of Bankrupt Estate of Lymn [2012] NSWSC 562 Hearing dates: 13 April 2012 Decision date: 13 April 2012 Jurisdiction: Equity Division Before: Rein J Decision: Declarations and judgments for the plaintiff. Catchwords: GUARANTEE AND INDEMNITY - action against surety - specific performance of contract of guarantee - bankrupt surety - specific performance available if bankruptcy commenced after contract has been entered into and guarantee has been called on Legislation Cited: Contracts Review Act 1980 Cases Cited: Bridge Wholesale Acceptance Corporation (Aust) Ltd v Burnard (1992) 27 NSWLR 415 Re Bastable; Ex parte The Trustee [1901] 2 KB 518 Re Scheibler; Ex parte Holthausen (1874) LR9ChApp 722 Pearce v Bastable's Trustee in Bankruptcy [1901] 2 Ch 122 Texts Cited: G Jones and W Goodhart, Specific Performance, 2nd ed (1996) Category: Principal judgment Parties: GE Commercial Corporation (Australia) Pty Ltd (Plaintiff) Alan Richard Nichols as Trustee of Bankrupt Estate of Michael David Lymn (First defendant) Official Trustee in Bankruptcy as Trustee of Bankrupt Estate of Diane Roselyn Lymn (Second defendant) Representation: Counsel: A Bulley (Plaintiff) No appearance for the defendants Solicitors: DibbsBarker (Plaintiff) TressCox Lawyers (Second defendant) File Number(s): SC 2010/56086