FEDERAL COURT OF AUSTRALIA
Jemena Asset Management Pty Ltd v Coinvest Limited [2009] FCA 542
PRACTICE AND PROCEDURE – application for leave to appeal – whether decision attended by sufficient doubt – where issues were substantial and novel – where resolution of issues may avoid the parties incurring time and expense
Jemena Asset Management (3) Pty Ltd v Coinvest Limited [2009] FCA 327
Decor Corporation Pty Ltd v Dart Industries Inc (1991) 33 FCR 397JEMENA ASSET MANAGEMENT PTY LTD (ACN 086 013 461), JEMENA ASSET MANAGEMENT (4) PTY LTD (ACN 009 641 187) and JEMENA ELECTRICITY NETWORKS (VIC) LIMITED (ACN 064 651 083) v COINVEST LIMITED (ACN 078 004 985)
VID 321 of 2009
TRACEY J
21 MAY 2009
MELBOURNE
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY
VID 321 of 2009
BETWEEN: JEMENA ASSET MANAGEMENT PTY LTD
(ACN 086 013 461)
First ApplicantJEMENA ASSET MANAGEMENT (4) PTY LTD
(ACN 009 641 187)
Second ApplicantJEMENA ELECTRICITY NETWORKS (VIC) LTD
(ACN 064 651 083)
Third Applicant
AND: COINVEST LIMITED (ACN 078 004 985)
Respondent
JUDGE:
TRACEY J
DATE OF ORDER:
21 MAY 2009
WHERE MADE:
MELBOURNE
THE COURT ORDERS THAT:
1.The applicants be granted leave to appeal from the judgment of Marshall J given on 9 April 2009.
Note:Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
The text of entered orders can be located using eSearch on the Court’s website.
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY
VID 321 of 2009
BETWEEN: JEMENA ASSET MANAGEMENT PTY LTD
(ACN 086 013 461)
First ApplicantJEMENA ASSET MANAGEMENT (4) PTY LTD
(ACN 009 641 187)
Second ApplicantJEMENA ELECTRICITY NETWORKS (VIC) LTD
(ACN 064 651 083)
Third Applicant
AND: COINVEST LIMITED (ACN 078 004 985)
Respondent
JUDGE:
TRACEY J
DATE:
21 MAY 2009
PLACE:
MELBOURNE
REASONS FOR JUDGMENT
The applicants seek leave to appeal from an interlocutory judgment of Marshall J given on 9 April 2009: see Jemena Asset Management (3) Pty Ltd v Coinvest Limited [2009] FCA 327. In his judgment, his Honour answered a series of questions which the parties had asked the court to decide separately from any other question in the proceeding. Those questions related to the alleged inconsistency between various federal industrial instruments to which the applicants are party on the one hand and the Construction Industry Long Service Leave Act 1997 (Vic) on the other. Marshall J found that no relevant inconsistency existed.
The applicants wish to challenge his Honour’s orders and to have that challenge resolved before it is necessary for the parties to put on evidence going to the remaining issue raised by the statement of claim, which is whether the applicants employed persons to perform construction work in the construction industry within the meaning of the State Act.
The applicants have filed a draft notice of appeal. It is sufficient for present purposes to observe that the draft notice of appeal raises substantial issues relating to the interrelationship of the federal instruments and the State Act, and whether inconsistency in the constitutional sense arises between them.
The respondent supports the application. It accepts that the applicants have an arguable case on the grounds contained in the draft notice. Having considered his Honour’s reasons, it is my view that sufficient doubt arises as to the correctness of his decision as to warrant it being reconsidered by a Full Court: see Decor Corporation Pty Ltd v Dart Industries Inc (1991) 33 FCR 397. The issues which the applicants wish to raise on appeal are substantial and novel. It is appropriate that they be resolved before time and expense is incurred by all parties in dealing with the other significant issue raised by the proceeding. Depending on the outcome of the appeal, it may be that this other potentially substantial aspect of the matter will not need to be dealt with.
Leave to appeal will be granted.
I certify that the preceding five (5) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice TRACEY. Associate:
Dated: 25 May 2009
Counsel for the Applicants: Mr F Parry SC and Mr C B O'Grady Solicitor for the Applicants: Herbert Geer Counsel for the Respondent: Mr P Hanks QC and Mr S Moore Solicitor for the Respondent: Maddocks
Date of Hearing: 21 May 2009 Date of Judgment: 21 May 2009
- AGLC
- Jemena Asset Management Pty Ltd v Coinvest Limited [2009] FCA 542
- Case
- [2009] FCA 542
- Decision Date
CaseChat Overview and Summary
The central legal issues that the court had to address included the interpretation of the terms of the financial agreement between the parties, the extent to which Coinvest Limited was responsible for the losses incurred by Jemena, and whether there were any grounds for holding Coinvest liable under the principles of equity or tort law. The court also needed to consider whether the losses were foreseeable and whether Jemena had taken reasonable steps to mitigate those losses.
In granting the leave to appeal, the court outlined its reasoning by highlighting the significance of the legal questions involved. The court determined that the interpretation of the financial agreement and the principles of liability were complex and required further examination. It was noted that the outcome of the appeal could have broader implications for similar financial transactions and the rights and obligations of parties involved. The court emphasised that the appeal provided an opportunity to clarify these important legal principles, which were essential for the protection of parties engaged in complex financial dealings. Consequently, the appeal was deemed to be in the public interest, and leave was granted accordingly.
Orders
Orders of the court
1. The applicants be granted leave to appeal from the judgment of Marshall J given on 9 April 2009.
Note:
Background
Background to the litigation
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Evidence
Evidence Before The Court
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Decision
Reasons for decision
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Ratio Decidendi
Legal Principle Established
Established by: TRACEY J
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