11 Jul 2000
The defendant had no real prospect of successfully defending the action because the guarantee was supported by sufficient consideration and there was no credible evidence that the defendant was legally insane at the time of execution; accordingly the appeal is dismissed.
25 Jul 1997
The judge found the defendant's oral assurance not credible and unsupported by contemporaneous conduct or evidence, held that the plaintiff's forbearance constituted valid consideration, found no proven variation releasing the defendant, and concluded there was no bona fide defence fit for trial; accordingly summary judgment was entered for the plaintiff.
15 Sept 1983
The court held that on construction the Facility Letters did not prevent the lenders calling loans for immediate repayment after the review date and that the reservation to reduce or withdraw facilities meant loans could be called in; implications contended for by defendants were not necessary for business efficacy and conflicted with express terms; the earlier fraud action did not constitute an election precluding recovery on the loans; triable issues existed as to certain Paliburg share transactions and consideration for guarantees, and unconditional leave to defend must be granted where tr…
15 Sept 1983
Facility Letters were construed as granting loans subject to a lender's reserved right to reduce or withdraw and to call loans after the review date; the express terms and surrounding circumstances did not give rise to implied terms preventing demand or requiring notice; plaintiffs had not elected to repudiate loans by issuing the earlier fraud proceedings; triable issues exist only in relation to loans connected to the Paliburg share transactions and as to consideration for several guarantees; where no triable issue exists summary judgment for principal sums should be entered and leave to de…
15 Sept 1983
Facility Letters construed as loans subject to the lender's reserved right to call in on demand; the review date did not prevent call-in and did not render actions premature; no triable issue on express or implied terms or on election in general; triable issues exist concerning loans used to buy Paliburg shares and as to consideration for various guarantees; where no triable issue existed plaintiffs were entitled to summary judgment, and where triable issues existed defendants were granted unconditional leave to defend.