Telesto Investments Limited v UBS AG [2013] NSWSC 503

Supreme Court New South Wales

Medium Neutral Citation: Telesto Investments Limited v UBS AG [2013] NSWSC 503 Hearing dates: 23 November 2012, written submissions 30 November and 5 December 2012 Decision date: 09 May 2013 Jurisdiction: Equity Division Before: Sackar J Decision: 1. These proceedings be permanently stayed. 2. The plaintiff's notice of motion be dismissed. Catchwords: PRIVATE INTERNATIONAL LAW - jurisdiction - whether Singapore court had jurisdiction - whether defendant in Singapore proceedings submitted to jurisdiction of Singapore - whether proceedings determined in Singapore were within the ambit of the contractual submission to jurisdiction clause - relevance of contractual submission to jurisdiction clause where the relief sought in the local forum includes the setting aside of the contract containing the jurisdiction clause - whether contractual jurisdiction clause is against public policy if it has the effect of precluding prosecution of claims under consumer protection legislation in Australia - whether defendant submitted to Singapore jurisdiction by its conduct.

PRIVATE INTERNATIONAL LAW - stay of local proceedings - earlier judgment in Singapore - whether an ex parte hearing in a foreign jurisdiction resulting in a brief ex tempore judgment can give rise to res judicata, issue estoppel, Anshun estoppel or a plea of abuse of process - whether an earlier foreign judgment can gives rise to equivalent preclusionary doctrines under the law of the foreign jurisdiction.

PROCEDURE - res judicata - whether causes of action in pending New South Wales proceedings are in substance the same as those determined in earlier Singapore proceedings.