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]
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.