Daily Banking: Thursday, 4 June 2015 View in browser

A daily Bulletin listing our choice of Decisions of Superior Courts of Australia.
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Daily Banking

Executive Summary (One Minute Read)
Secure Funding Pty Ltd (formerly known as Liberty Funding Pty Ltd) v Egan (NSWSC) - real property - possession - stay of execution of judgment refused
Commonwealth Bank of Australia v ACN 076 848 112 Pty Ltd (NSWSC) - corporations - voluntary administration - leave to proceed against company - access to documents relating to company’s insurance arrangements refused
Westpac Banking Corporation v ZH International Pty Ltd (No. 2) (NSWSC) - costs - possession - unreasonable rejection of offer - indemnity costs awarded to bank
Maynard v The Estate of Maynard (QSC) - Wills and estates - succession - evidence husband died while surfing - presumption of death had not yet arisen - wife at liberty to swear to death of husband
Summaries With Link (Five Minute Read)
Secure Funding Pty Ltd (formerly known as Liberty Funding Pty Ltd) v Egan [2015] NSWSC 669
Supreme Court of New South Wales
Davies J
Real property - possession - proceedings arising out of claim for possession and claim for debt - second defendant sought stay of execution of judgment in plaintiff’s favour - second defendant submitted that lawyers acting for her during trial did not lead all appropriate evidence to claim contract should be varied or set aside under Contracts Review Act 1980 - held: no real information about basis of appeal and likelihood of success - second defendant had used part of loan to refinance earlier mortgage -  no offer to pay or secure that amount let alone amount outstanding to plaintiff -  stay of execution of the writ of possession refused.
Secure
Commonwealth Bank of Australia v ACN 076 848 112 Pty Ltd [2015] NSWSC 666
Supreme Court of New South Wales
Ball J
Corporations - bank sought and was granted leave under s444E(3) Corporations Act 2001 (Cth) to proceed against first defendant subject of deed of company arrangement - bank also sought access to documents disclosing details of first defendant’s professional indemnity insurance - bank had also served notice to produce and subpoena seeking access to the documents - first defendant sought to set aside notice - ss56-61 Civil Procedure Act 2005 - held: production of documents relating to first defendant’s insurance arrangements not justified by modern case management principles - not in interests of justice for insurance policies to be disclosed - notice set aside - balance of amended notice of motion dismissed.
Commonwealth
Westpac Banking Corporation v ZH International Pty Ltd (No. 2) [2015] NSWSC 679
Supreme Court of New South Wales
Adamson J
Costs - indemnity costs - bank succeeded in claim for possession - bank sought costs on indemnity basis as a result of two offers - s98 Civil Procedure Act 2005 - s131 Evidence Act 1995 - held: first “walk away” offer did not contain requisite degree of compromise in circumstances - evidence of settlement negotiations in relation to second offer rejected - unreasonable for defendants to reject second offer - indemnity costs awarded.
Westpac
Maynard v The Estate of Maynard [2015] QSC 144
Supreme Court of Queensland
Atkinson J
Wills and estates - succession - circumstances in which Court able to make finding person deceased and allow widow to swear to his death - applicant’s husband travelled to Bali and checked into his accommodation but never checked out and was not seen again after he left accommodation to go surfing - fragment of surfboard was recovered by a local dive master that day - husband’s body not found - there was evidence husband died while surfing - seven years had not expired so as to give rise to presumption of death - held: in all circumstances Court satisfied applicant should be at liberty to swear to the death of deceased - Court also satisfied grant of letters of administration upon intestacy should be made to applicant for his estate
Maynard