BNY Trust Company of Australia Limited v Banksia Finance and Leasing Co Pty Ltd [2013] NSWSC 1776

Supreme Court New South Wales

Medium Neutral Citation: BNY Trust Company of Australia Limited v Banksia Finance and Leasing Co Pty Ltd [2013] NSWSC 1776 Hearing dates: 4 September 2013 Decision date: 03 December 2013 Jurisdiction: Common Law Before: Hall J Decision: (1) Grant leave to the second to fifth defendants to file the Amended Defence dated 6 June 2013. (2) Pursuant to Rule 16.3 of the Uniform Civil Procedure Rules 2005, default judgment is entered for the plaintiffs against the First Defendant. (3) Pursuant to Part 13, Rule 13.1 of the Uniform Civil Procedure Rules 2005, that judgment be entered for the plaintiffs against the Second, Third, Fourth and Fifth Defendants. (4) The proceedings are re-listed for the purpose of: (a) the making of final orders to give effect to this judgment (b) the making of any ancillary orders including orders as to interest and costs. Catchwords: PROCEDURE - DEFAULT JUDGMENT - Part 16 of the UCPR - plaintiffs loaned money to first defendant under a loan facility with debt owed guaranteed by second, third, fourth and fifth defendants - second defendant sole director of the third, fourth and fifth defendant companies - terms of loan facility and guarantees varied by two deeds of forbearance entered into by the parties and executed by second defendant - under the deeds of forbearance parties acknowledged their respective rights and obligations under the loan facility and guarantees - parties agreed to extend time for payment of all monies due pursuant to the terms of the deeds of forbearance - first defendant defaulted - guarantor demands were made to the second, third, fourth and fifth defendants - application by plaintiffs pursuant to rule 16.3 of the UCPR seeking default judgment against first defendant for debt owing under the loan facility - first defendant served - no defence filed by first defendant - plaintiff entitled to judgment against first defendant for debt owed under loan facility