Christopher Kinsella v Wayne Jones [2009] NSWSC 423

Christopher Kinsella v Wayne Jones [2009] NSWSC 423

The advances were made by way of loan, not investment, as evidenced by written agreements and conduct. The plaintiffs are entitled to judgment for the principal sum, contractual interest, and indemnity costs as provided by contract.

Parties
First Plaintiff: Christopher J Kinsella; Second Plaintiff: Catherine S Kinsella; Defendant: Wayne C Jones
Jurisdiction
Australia
Judgment Date
18 May 2009
Procedural Posture
Commercial List Contract / Final Judgment
Outcome
Judgment for Plaintiffs
Legal Topics
Loan Agreement, Indemnity Costs
Contracts Loan Agreement Indemnity Costs

Case Brief

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Parties

Christopher J Kinsella

First Plaintiff

Catherine S Kinsella

Second Plaintiff

Wayne C Jones

Defendant

Procedural Posture

Commercial List Contract / Final Judgment

Legal Issues

  1. 1 Whether advances to defendant were loans or investments
  2. 2 Entitlement to principal, contractual interest, and indemnity costs

Ratio Decidendi

The advances were made by way of loan, not investment, as evidenced by written agreements and conduct. The plaintiffs are entitled to judgment for the principal sum, contractual interest, and indemnity costs as provided by contract.

Court Disposition

Judgment for Plaintiffs

Orders

  • Entry of judgment for the plaintiffs against the defendant in the sum of $755,000 together with arrears of interest and interest at the contractual rate up until judgment.
  • Defendant to pay plaintiffs' costs on the indemnity basis.