Equititrust Ltd & Anor v Franks (No 2) [2009] NSWCA 238

Equititrust Ltd & Anor v Franks (No 2) [2009] NSWCA 238

The appeal was allowed in part because the appellants succeeded on the estoppel issue, resulting in a significant variation of the judgment. However, as the respondent was successful on the set-off issue, and given the separation of issues, there should be no order as to the costs of the appeal or the stay application. The principal sum payable was reduced accordingly.

Jurisdiction
Australia
Judgment Date
13 August 2009
Procedural Posture
Appeal / Post Judgment Orders and Costs
Outcome
Appeal allowed in part; judgment of lower court varied; no order as to costs of appeal or stay application; other orders as specified.
Legal Topics
['costs' 'promissory Estoppel' 'set Off' 'consequential Orders']
['civil Procedure'] ['costs' 'promissory Estoppel' 'set Off' 'consequential Orders']

Case Brief

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Procedural Posture

Appeal / Post Judgment Orders and Costs

Legal Issues

  1. 1 ['Whether the primary judge erred in findings on promissory estoppel' 'Whether the primary judge erred in findings on set-off' 'Appropriate orders as to costs on appeal and the stay application']

Ratio Decidendi

The appeal was allowed in part because the appellants succeeded on the estoppel issue, resulting in a significant variation of the judgment. However, as the respondent was successful on the set-off issue, and given the separation of issues, there should be no order as to the costs of the appeal or the stay application. The principal sum payable was reduced accordingly.

Court Disposition

Appeal allowed in part; judgment of lower court varied; no order as to costs of appeal or stay application; other orders as specified.

Orders

  • ['Appeal allowed in part.' 'The judgment in the Equity Division is varied by substituting judgment for $274,797.58 in lieu of $427,869 with effect from 4 April 2008.' 'Order that $274,797.58 together with interest on that sum at the judgment rate from 4 April 2008 until the payment into Court, and thereafter at the...