23 Sept 2010
URQUHART AND ANOR V SPANBILD HOLDINGS LIMITED CA CA30/2010
- Citation
- openlaw-a3d0982e_3d8b_4fe8_91f0_e06f651d0889.pdf
- Court
- Court of Appeal
The Court held the payment of $1,218,000 by Spanbild was made pursuant to its guarantee because the ANZ demand altered the circumstances, Spanbild elected to satisfy the demand as guarantor, contemporaneous communications and the Bank's acceptance established the character of the payment, and the company was merely a conduit; accordingly Spanbild was entitled to recover pro rata contributions under clause 10.2; further, the appellants' rectification case lacked credible and cogent evidence and the evidence was not fresh, so leave to adduce further evidence and amend was refused.