In the matter of Rafic Pty Ltd [2018] NSWSC 1608

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Rafic Pty Ltd [2018] NSWSC 1608 Hearing dates: 10 October 2018 Decision date: 10 October 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court determines that the Plaintiff has no entitlement to interest under s 101 of the Civil Procedure Act 2005 (NSW). Catchwords: PRACTICE AND PROCEDURE – interest – where previously ordered that defendant would purchase plaintiff's shareholding at a specified price – where payment was not made within 28 days after the date on which judgment took effect – whether order for the purchase of shares for a specified price constitutes an order for the payment of money – whether interest payable on shareholding purchase price. Legislation Cited: - Civil Procedure Act 2005 (NSW) s 101 - Corporations Act 2001 (Cth) s 233 Cases Cited: - Re Contact 121 Pty Limited and Contact 121 (Qld) Pty Limited [2011] NSWSC 979 Category: Procedural and other rulings Parties: Joseph Fred Essey (Plaintiff) Rafic Pty Ltd (First Defendant) All-fect Distributors Pty Ltd (Second Defendant) Paul Fred Essey (Third Defendant) Representation: Counsel: J Hassett (Solicitor) (Plaintiff) D Neggo (First Defendant)

Solicitors: Hassett Lee (Plaintiff) Barraket Stanton (First Defendant) File Number(s): 2017/111018

Judgment – ex tempore (revised 11 october 2018) 1. This application has arisen in a somewhat unusual way. The Defendant, Rafic Pty Limited ("Company"), initially exercised liberty to restore, granted by Brereton J on 9 November 2017, in proceedings brought by the Plaintiff, Mr Joseph Essey, against the Company. It did so in circumstances that Mr Joseph Essey had commenced proceedings in the Local Court of New South Wales seeking an order for interest arising, or purportedly arising, under s 101 of the Civil Procedure Act 2005 (NSW) in respect of the judgment of Brereton J. There is no real explanation of why Mr Essay had commenced those proceedings in the Local Court of New South Wales in respect of the implementation of a judgment of this Court. In the event, as matters have proceeded, the parties have proceeded sensibly and the proceedings in the Local Court of New South Wales have been abandoned and this Court has been left to determine matters arising from its own judgment. 2. The matters in issue turn, in large part, upon a question of construction of s 101 of the Civil Procedure Act in the particular circumstances, although the parties have also agitated factual issues which may or may not require determination, depending upon the resolution of that question of construction.