Stringer v Abbotsleigh Properties Pty Limited [2008] NSWDC 366

The Loan Agreement, objectively construed, evinces that Joseph Prestia and Noble Capital Pty Limited agreed to personally guarantee the loan advanced by Mr Stringer to Abbotsleigh Properties Pty Limited and are liable as guarantors to repay the loan and any accrued interest.

Parties: Plaintiff: Norman Keith Stringer; First Defendant: Abbotsleigh Properties Pty Limited; Second Defendant: Joseph Prestia; Third Defendant: Noble Capital Pty Limited
Jurisdiction: Australia
Judgment Date: 23 July 2008
Procedural Posture: Civil / Final Judgment
Outcome: Judgment for the plaintiff against the second and third defendants.
Legal Topics: Guarantee, Contractual Interpretation, Liability of Guarantors

Contract Law Guarantee Contractual Interpretation Liability of Guarantors

Case Brief

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Full judgment text Downloadable case file Legal principles 8 Authorities cited 8 Party arguments 2 Amounts and remedies 5

Parties

Norman Keith Stringer

Plaintiff

Abbotsleigh Properties Pty Limited

First Defendant

Joseph Prestia

Second Defendant

Noble Capital Pty Limited

Third Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

1 Whether Joseph Prestia and Noble Capital Pty Limited agreed to guarantee the loan
2 Whether the defendants agreed to provide written guarantees
3 Whether the defendants agreed to cause an amount of $160,000 to be paid to the plaintiff

Ratio Decidendi

Court Disposition

Judgment for the plaintiff against the second and third defendants.

Orders

Verdict for the plaintiff against the second and third defendants for $759,630.12 together with interest.
The second and third defendants are to pay the plaintiff's costs of the proceedings.