Syncora Holdings Ltd (fka SYCRF)

[DennyCrane550]

Reliance Rail Pty Limited v Permanent Custodians Limited [2017] NSWSC 1111
Supreme Court of New South Wales
McDougall J
Contract - contractual construction - plaintiffs sought to refinance debt they incurred - whether
plaintiffs could refinance debt without creditors’ consent and, if so, on what conditions -
construction of ‘voluminous documents’ - Senior Intercreditor Deed - Common Terms Deed -
‘approach to construction of commercial contracts’ - whether ‘right to redeem Senior Bonds’ -
conditions of redemption - what must be paid on refinance - whether amount of indemnity under
Common Terms Deed must be paid. - ‘Bullet Junior Bonds’ - held: plaintiffs succeeded to
certain extent - parties to bring in draft orders
Reliance
[From Benchmark Friday, 25 August 2017]



https://www.caselaw.nsw.gov.au/decision/599b76dae4b058596cba97ef