Abod Pty Ltd v Kingston Finance Pty Limited [2019] NSWSC 242

Supreme Court New South Wales

Medium Neutral Citation: Abod Pty Ltd v Kingston Finance Pty Limited [2019] NSWSC 242 Hearing dates: 8 March 2019 Date of orders: 15 March 2019 Decision date: 15 March 2019 Jurisdiction: Equity Before: Pembroke J Decision: Summons dismissed Catchwords: CONTRACT – construction – uncertainty – matter left for determination of one party – interest rate – times and periods – requirement of reasonableness – no uncertainty Legislation Cited: Income Tax Assessment Act 1936 (Cth) Cases Cited: Cross v National Australia Bank (unreported, FCA, 29 April 1994) Drambo Pty Ltd v Westpac Banking Corporation Ltd [1996] FCA 1665; (1996) 2 ACCR 479 Godecke v Kirwan (1973) 129 CLR 629 Meehan v Jones (1981-82) 149 CLR 571 Morehuman (Australia) Pty Ltd v Talimor Pty Ltd [2006] NSWSC 1027 Perpetual Nominees Ltd v Parist Holdings Pty Ltd [2005] NSWSC 1345 Shield Lifestone Holdings Pty Limited v LSKF Holdings Pty Limited [2018] NSWSC 335 Trad Financial Services Pty Ltd v Trad [2013] NSWSC 1691 Victorian Producers Co-Operative Co Ltd v Edwards & Ors (1993) 62 SASR 415 Category: Principal judgment Parties: Abod Pty Ltd – first plaintiff FB Nominees Pty Ltd – second plaintiff Richard Barney Arthur Scheinberg – second defendant Richard Scheinberg Holdinjgs Pty Ltd – third defendant Faircal Pty Ltd – fourth defendant Deborah Redelman – sixth defendant Redjag Pty Ltd – seventh defendant Redbell Nominees Pty Ltd – eighth defendant Deborah Holdings Pty Ltd – ninth defendant Jolistare Pty Limited – tenth defendant Representation: Counsel: Mr R D Marshall SC – for the first and second plaintiffs Mr M Izzo SC with Mr B Michael – for the second, third, fourth, sixth, seventh, eighth, ninth and tenth defendants