GPT RE Limited v Griffin

GPT RE Limited sought to recover a sum of money from Griffin and others for a guarantee given in respect of a lease. The case was heard in the Supreme Court of New South Wales. The plaintiff, GPT RE Limited, alleged that the defendants, including Griffin, had breached a guarantee for a lease agreement. The defendants had been guarantors for the lessee's obligations under a commercial lease. The dispute centred on whether the defendants were liable for the amount claimed by the plaintiff after the lessee defaulted on the lease.

The court was required to determine the extent of the defendants' liability under the guarantee and whether the plaintiff had accurately assessed the amount owed. The key issue was whether the plaintiff had correctly calculated the sum due under the guarantee and whether the defendants had any valid defences or counterclaims. The court considered the terms of the guarantee agreement, the events leading to the lessee's default, and the proper assessment of the amount claimed. The defendants argued that the assessment was incorrect and sought to reduce the amount or argue for a set-off against other claims.

The court found that the plaintiff had correctly assessed the amount owed under the guarantee as $247,123.04. The defendants did not provide sufficient evidence to challenge the assessment or raise any valid defences. The court held that the defendants were jointly and severally liable for the amount claimed by the plaintiff, plus costs. The court rejected the defendants' arguments and confirmed that the plaintiff was entitled to recover the full amount as calculated.

The court ordered that judgment be entered in favour of the plaintiff against the defendants jointly and severally in the sum of $247,123.04, plus costs on the ordinary basis as agreed or assessed.