Waco Kwikform Limited v Jabbour [2011] NSWSC 1328

Waco Kwikform Limited v Jabbour [2011] NSWSC 1328

The guarantee and indemnity signed by the defendant applies to all moneys owed by Jabbcorp to the plaintiff arising after 14 October 2008, including those from the Brighton-Le-Sands project. The deed of company arrangement and corresponding release does not affect the plaintiff's rights against the guarantor. The quantum of the debt is as claimed by the plaintiff. Costs on the ordinary basis are recoverable and secured by the charge, not on an indemnity basis, except from 7 May 2011 pursuant to r 42.14(2) after the offer of compromise. Interest is payable and also secured by the charge. No immediate order for judicial sale is made; the defendant is to be afforded reasonable time to pay...

Parties
Plaintiff: Waco Kwikform Limited; Defendant: Simon Jabbour
Jurisdiction
Australia
Judgment Date
26 October 2011
Procedural Posture
Principal Judgment / Judgment After Hearing
Outcome
Judgment for the plaintiff
Legal Topics
Guarantee and Indemnity, Enforcement of Guarantees, Charges Over Property, Deed of Company Arrangement, Interest on Judgment Debt, Costs
Equity Commercial Law Guarantee and Indemnity Enforcement of Guarantees Charges Over Property Deed of Company Arrangement Interest on Judgment Debt Costs

Case Brief

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Parties

Waco Kwikform Limited

Plaintiff

Simon Jabbour

Defendant

Procedural Posture

Principal Judgment / Judgment After Hearing

Legal Issues

  1. 1 Does the guarantee and indemnity signed in 2008 apply to debts incurred by Jabbcorp to the plaintiff in respect of the Brighton-Le-Sands project?
  2. 2 What is the quantum of the debt owed by Jabbcorp to the plaintiff?
  3. 3 Does the deed of company arrangement, and the release of debt against Jabbcorp, affect the plaintiff's right to recover under the guarantee and indemnity?

Ratio Decidendi

The guarantee and indemnity signed by the defendant applies to all moneys owed by Jabbcorp to the plaintiff arising after 14 October 2008, including those from the Brighton-Le-Sands project. The deed of company arrangement and corresponding release does not affect the plaintiff's rights against the guarantor. The quantum of the debt is as claimed by the plaintiff. Costs on the ordinary basis are recoverable and secured by the charge, not on an indemnity basis, except from 7 May 2011 pursuant to r 42.14(2) after the offer of compromise. Interest is payable and also secured by the charge. No immediate order for judicial sale is made; the defendant is to be afforded reasonable time to pay...

Court Disposition

Judgment for the plaintiff

Orders

  • Judgment for the plaintiff against the defendant in the sum of $51,971 inclusive of interest under s 100 of the Civil Procedure Act.
  • Defendant to pay plaintiff's costs on the ordinary basis up to and including 6 May 2011, and on the indemnity basis from 7 May 2011.