[2012] NSWSC 747
RB Lease Pty Limited as trustee For RB Finance v Condon
(1) Order pursuant to Section 5.2(b)(iii) of the Jurisdiction of Courts (Cross-Vesting) Act 1987 that the whole of the proceedings 2011/163271 in the Supreme Court New South Wales be, and hereby are, transferred to the Supreme Court of Victoria. (2) Order that the costs of the proceedings today be costs in the cause.
Catchwords
PROCEDURE - cross-vesting - whether Supreme Court of Victoria the more appropriate forum - interests of justice - collapsed schemes - many group proceedings and individual proceedings in the Supreme Court of Victoria - transfer to Supreme Court of Victoria
Legislation cited
- Jurisdiction of Courts (Cross-Vesting) Act 1987
Judgment
EX TEMPORE Judgment
- [1]
This matter concerned with the recovery by the plaintiff of a loan made to the defendant for the purpose of the defendant participating in the Great Southern Plantation 2005 Project.
- [2]
This project was a managed investment scheme, the manager of which was Great Southern Managers Australia Ltd. Receivers and managers have been appointed to that company.
- [3]
Under the Great Southern Group of companies, there were more than 20 schemes for the purpose of commercially growing various products including timber, olives, almonds and wine grapes. The schemes derived capital from investors, the majority of whom financed their investments by way of loans.
- [4]
All of the schemes have collapsed and have been wound up, although a few are ongoing.
- [5]
Presently the in the Supreme Court of Victoria, there are 16 group proceedings brought by investors against various companies and directors involved in the schemes.
- [6]
As well, there are more than 80 individual proceedings brought by lenders against investors seeking to recover amounts said to be owing by investors on loans which they took out to fund their investments.
- [7]
The defendant, Mrs Condon, is a group member of one of the group proceedings, SCI 2010/02882 in the Supreme Court of Victoria. In these proceedings she, as a group member, seeks declarations declaring void or unenforceable, the loan which is the subject of these proceedings.
- [8]
It is abundantly clear to me that the current proceedings is related to the Plantation Group proceedings (2010/02882) in the Supreme Court of Victoria.
- [9]
Having regard to the nature of, and the issues existing in, this litigation, and all of the litigation in Victoria, it is clearly in the interests of justice that all of the litigation involving similar issues arising out of the Great Southern Group of companies be heard and managed in the same court. A crossvesting order transferring these proceedings to the Supreme Court of Victoria ought therefore be made.
Orders
- [10]
I make the following orders:
- (1)
I order pursuant to Section 5.2(b)(iii) of the Jurisdiction of Courts (Cross-Vesting) Act 1987 that the whole of the proceedings 2011/163271 in the Supreme Court New South Wales be, and hereby are, transferred to the Supreme Court of Victoria.
- (2)
I order that the costs of the proceedings today be costs in the cause.
- (1)