| Linke
v TT Builders Pty Ltd (FCA) – costs – failure to comply with
implied terms of offer of compromise
|
| Griffin
Energy Group Pty Limited (Subject to DOCA) v ICICI Bank Ltd (Singapore Branch) (NSWSC)
– standby letters of credit – sale agreement - conditions to enable vendor to
demand payment could not be met
|
| Kaboko
Mining Ltd v Noble Resources International Pte Ltd (WASC)
– corporations – genuine dispute in relation to statutory demand – demand set
aside
|
| Summaries With Link (Five Minute Read) |
Linke
v TT Builders Pty Ltd
[2015] FCA 111
Federal Court of Australia
White J
Costs – offer of compromise – proceedings
concerned applicant’s claim for damages in respect of defective building work
and claim for damages for misrepresentation by land agent – parties agreed on
compromise – applicant accepted offer of compromise – applicant sought orders
pursuant to r25.10 Federal Court Rules on
basis of respondents’ failure to comply with offer’s terms - delay - held:
respondents failed to comply with implied terms of offer to formulate their
costs pursuant to offer and to respond to applicant’s formulation of his costs
– applicant entitled to benefit of compromise in timely way.
Linke
|
Griffin
Energy Group Pty Limited (Subject to DOCA) v ICICI Bank Ltd (Singapore Branch) [2015] NSWSC 87
Supreme Court of New South Wales
Hammerschlag J
Standby letters of credit – dispute
concerning operation of three standby letters of credit issued on 28/2/11 –
each letter of credit had maximum liability of $50 million and on its face was
to expire on 1/3/15 – letters of credit issued to secure final instalment under
sale agreement for sale of shares in companies – sale shares represented
underlying interest in coal mine – whether conditions to enable plaintiff to
demand payment under letters of credit could be met - International Standby
Practices (ISP98) - provision for extension of date for timely presentation
where last day for presentation not a business day – requirement of declaration
that amount due and payable and delivery of drafts - held: letters of credit
not capable of being security for payment of last instalment – summons
dismissed.
Griffin
Energy Group Pty Limited
|
Kaboko Mining Ltd v Noble
Resources International Pte Ltd
[2015] WASC 67
Supreme
Court of Western Australia
Master
Sanderson
Corporations
– statutory demand – plaintiff was an exploration and development company –
defendant was company member of group which operated in metals, energy and
agriculture markets – plaintiff sought to set aside statutory demand served on
it by defendant – held: there was genuine dispute as to whether there had been
breach of pre-payment facility agreement between parties which triggered payment
or debt obligation to defendant - there was genuine dispute in relation to debt
the subject of the statutory demand – demand set aside.
Kaboko
Mining Ltd
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