Gadd v Australia Business Executive Investments Pty Ltd [2019] NSWDC 798

District Court New South Wales

Medium Neutral Citation: Gadd v Australia Business Executive Investments Pty Ltd [2019] NSWDC 798 Hearing dates: 9, 10 and 11 October; 4 November 2019 Date of orders: 05 November 2019 Decision date: 05 November 2019 Jurisdiction: Civil Before: P Taylor SC DCJ Decision: (1) Judgment for the plaintiff against the defendants in the sum of $244,249.75. (2) Defendants to pay the plaintiff's costs of the proceedings with those costs incurred from 5 December 2018 to be payable on the indemnity basis. Catchwords: LOAN – whether partly repaid GUARANTEE AND INDEMNITY - whether signed – whether demand made on guarantor company by demand on guarantor – whether signature by guarantor on behalf of his company constituted personal acceptance – whether deed of guarantee replaced guarantee covenants in loan agreements Cases Cited: Alonso v SRS Investments (WA) Pty Ltd [2012] WASC 168 Commercial Bank of Australia Ltd v Colonial Finance, Mortgage, Investment & Guarantee Corporation Ltd (1906) 4 CLR 57 Druin Pty Ltd atf the Druin No 3 Trust trading as Harvey Norman Commercial Division v Corbin [2014] NSWSC 510 Hillam v Iacullo [2015] NSWCA 196 Category: Principal judgment Parties: Mark Lawrence Gadd (plaintiff) Australia Business Executive Investments Pty Ltd (first defendant) Mark Alexander-Erber (second defendant) Representation: Solicitors: Lou Baker & Associates (plaintiff) Somerville Legal (defendants) File Number(s): 2018/275247 Publication restriction: None