Equitable set-off will not be ordered between judgments involving different parties (even related entities) arising from different transactions entered into at different times, where the separateness of the transactions, the lack of any overarching agreement, and the lack of correspondence between parties entitled and parties liable are so pronounced as to preclude a finding that one claim impeaches the other. The fact that the individuals behind the corporate entities treated their interests as interchangeable during their business relationship does not overcome the separateness of the corporate structures they deliberately erected. The 'impeachment of title' test for equitable set-off remains the law in Australia.
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