|Access Solutions International Pty Ltd v Taglieri (VSC) - corporations - statutory demand - genuine dispute in respect of one of three debts
|Bowesco Pty Ltd v Westpoint Management Ltd (WASCA) - third party lent funds to complete development - no subrogation to rights of primary lender - appeal dismissed
|Summaries With Link (Five Minute Read)
|Access Solutions International Pty Ltd v Taglieri  VSC 494
Supreme Court of Victoria
Corporations - statutory demand - plaintiff sought to set aside statutory demand claiming three alleged debts owed by plaintiff to defendant pursuant to ss459G & 459J Corporations Act 2001 (Cth) - plaintiff contended there was a genuine dispute in relation to alleged debts, an offsetting claim and/or abuse of process by the defendant - held: there was genuine dispute in relation to employee remuneration debt - no genuine dispute in relation to motor vehicle allowance or directors’ remuneration - no off-setting claim or abuse of process - orders made as to amount of admitted debt - extension of time for compliance.
|Bowesco Pty Ltd v Westpoint Management Ltd  WASCA 184
Court of Appeal of Western Australia
McLure P; Buss & Newnes JJA
Mortgage - guarantee - Suncorp lent funds to Lanepoint to purchase and develop land - loan secured by mortgage and guaranteed by Bowesco - Wespoint lent additional funds to Lanepoint secured by second ranking charge - ASIC interim stop order prevented Wespoint from providing further funds - Bowesco lent Lanepoint $550,000 to enable it to complete development - Suncorp appointed receivers to Lanepoint - development completed and units sold - Lanepoint's debt to Suncorp paid - surplus funds from sale of units paid to Westpoint - Bowesco claimed Westpoint held $550,000 of excess funds on constructive trust for it because it was subrogated to Suncorp's rights, which required Suncorp to account to it from surplus funds - Bowesco alleged Wespoint had accepted surplus funds with knowledge of Bowesco's rights - trial judge held Bowesco paid $550,000 to Lanepoint to enable it to pay off unsecured creditors - money was used for that purpose - payment did not reduce Lanepoint's debt to Suncorp - no basis on which Bowesco could be subrogated to Suncorp's rights - Westpoint did not receive surplus funds with knowledge of failure by Suncorp to account in breach of fiduciary duty - trial judge dismissed claim - construction of guarantee - right to complete development - construction of Suncorp letter - subrogation - held: certain grounds of appeal upheld - Bowesco failed to identify any error capable of altering outcome - appeal dismissed.