Maunchest Pty Ltd & Anor v Bickford J. & Ors [1995] FCA 227

CATCHWORDS

CONTRACT - nature of agreement to purchase and develop house property - claim of monetary limit on costs of project for purpose of calculating notional profit not consistent with pleadings and evidence - evidence of witness as to terms of agreement not reliable - agreement as contended for by applicant not consistent with agreement as pleaded by applicant nor with evidence. TRUSTS - claim for equitable interest in fund in accordance with terms of express trust. JOINT VENTURE - agreement constituted a joint venture - community of interest in performance of agreement - mutual purpose to develop and sell land jointly owned to achieve a profit to be shared equally - possibility of loss not contemplated - no agreement to share losses - benefit and burden - equity to enforce equitable contribution of one-half of net loss. Cummings v. Lewis (1993) 41 FCR 559 - Appl. Maunchest Pty. Limited and Maunchest Consultancy Services Pty. Limited v. John Bickford and Noosa Hub Pty. Limited and Philip Gregory Jefferson No. NG808 of 1992 Cooper J., Brisbane, 6 April, 1995

IN THE FEDERAL COURT OF AUSTRALIA QUEENSLAND DISTRICT REGISTRY GENERAL DIVISION No. NG808 of 1992 MAUNCHEST PTY. LIMITED (A.C.N. 002 622 479) and MAUNCHEST CONSULTANCY SERVICES PTY. LIMITED (A.C.N. 064 333 419) Applicants JOHN BICKFORD First Respondent NOOSA HUB PTY. LIMITED (A.C.N. 010 204 789) (In Liquidation) and PHILIP GREGORY JEFFERSON Second Respondents JUDGE MAKING ORDER:Cooper J. WHERE MADE: Brisbane DATE OF ORDER: 6 April, 1995 MINUTES OF ORDER THE COURT ORDERS THAT: 1. The application of Maunchest Pty. Ltd. (In Liquidation) and Maunchest Consultancy Services Pty. Ltd. be dismissed. 2. The applicants pay to the respondent Noosa Hub Pty. Limited (In Liquidation) its costs of and incidental to the application fixed in the sum of FIVE THOUSAND DOLLARS ($5,000.00). 3. The FIVE THOUSAND DOLLARS ($5,000.00) paid into court by way of security for costs be paid to Messrs. Bickfords, solicitors for Noosa Hub Pty. Limited (In Liquidation) in discharge of the order for costs. 4. The accretions on the said sum, if any, be paid to the depositor of said sum. 5. The parties have liberty to apply. THE COURT DECLARES THAT: 1. Maunchest Pty. Ltd. (In Liquidation) was a joint venturer with Noosa Hub Pty. Ltd. (In Liquidation) in the development and sale of a house property at 10 Partridge Street, Torquay, Queensland. 2. Maunchest Pty. Ltd. (In Liquidation) is obliged to contribute the sum of $3,276.14 to the loss incurred by Noosa Hub Pty. Ltd. (In Liquidation) for the benefit of the joint venture and upon the payment of the loss by Noosa Hub Pty. Ltd. (In Liquidation) it shall be entitled to recover from Maunchest Pty. Ltd. (In Liquidation) the sum of $3,276.14 or prove in the winding up of Maunchest Pty. Ltd. (In Liquidation) for the said amount.