Angelis as trustee for the Angelis Family Trust v Pemba Capital Partners Fund I Partnership, LP (No 5) [2019] NSWSC 1877

Angelis as trustee for the Angelis Family Trust v Pemba Capital Partners Fund I Partnership, LP (No 5) [2019] NSWSC 1877

No ratio decisively given; the Court has not yet determined if the Loan Agreement remains binding after unwinding the Resilium Transaction or whether repayment is due within a reasonable time rather than the contract Termination Date.

Jurisdiction
Australia
Judgment Date
20 December 2019
Procedural Posture
Equity Commercial List / Post Judgment Seeking Further Submissions
Outcome
Further submissions invited on Loan Agreement question; issue not yet decided
Legal Topics
['judgments and Orders' 'loan Agreements' 'corporations Act 2001 (cth)' 'consequential Orders']
['equity' 'commercial Law'] ['judgments and Orders' 'loan Agreements' 'corporations Act 2001 (cth)' 'consequential Orders']

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Procedural Posture

Equity Commercial List / Post Judgment Seeking Further Submissions

Legal Issues

  1. 1 ['Whether the Loan Agreement remains binding after the unwinding of the Resilium Transaction' 'Timing of repayment obligation for $20 million advanced under Loan Agreement']

Ratio Decidendi

No ratio decisively given; the Court has not yet determined if the Loan Agreement remains binding after unwinding the Resilium Transaction or whether repayment is due within a reasonable time rather than the contract Termination Date.

Court Disposition

Further submissions invited on Loan Agreement question; issue not yet decided

Orders

  • ['Parties to confer and agree on timetable for submissions.' 'If oral submissions are sought, contact the Associate.']