Gunns Limited v Balani Pty Ltd [2011] FCA 431

FEDERAL COURT OF AUSTRALIA

Gunns Limited v Balani Pty Ltd [2011] FCA 431 Citation: Gunns Limited v Balani Pty Ltd [2011] FCA 431

Parties: GUNNS LIMITED (ACN 009 478 148) v BALANI PTY LTD (ACN 122 390 738) and PSAL LIMITED (ACN 118 825 120)

File number: TAD 54 of 2010

Judge: MARSHALL J

Date of judgment: 4 May 2011

Catchwords: CONTRACT – purchase of land – purchase price paid – conditions precedent to completion including grant of subdivision – right of cancellation by either party if conditions precedent not satisfied – right to recover purchase price EQUITY – equitable lien – right of purchaser paying purchase price for land – registered mortgage – prior notice to mortgagee TRADE PRACTICES – cross-claim – Trade Practices Act 1974 (Cth) ss 52 and 53A – contravention by lodgement of a priority notice – declaration sought – loss required – Federal Court of Australia Act 1976 (Cth) s 21

Legislation: Federal Court of Australia Act 1976 (Cth) s 21 Land Titles Act 1980 (Tas) Trade Practices Act 1974 (Cth) s 51AA, s 52, s 53A

Cases cited: Lion Nathan Australia Pty Ltd v Coopers Brewery Ltd (2006) 156 FCR 1 Pacific Carriers Ltd v BNP Paribas (2004) 218 CLR 451 Codelfa Constructions Pty Ltd v State Rail Authority (NSW) (1982) 149 CLR 337 Perpetual Trust Co Limited v Smith (2010) 186 FCR 566 Kimberley NZI Finance Ltd v AR Barr Investments Pty Ltd [1990] FCA 54 Barry v Heider (1914) 19 CLR 197 Bahr v Nicolay (No 2) (1988) 164 CLR 604 Frazer v Walker [1967] 1 AC 569 Watson Stores (Interstate) Limited v Maher (1988) 164 CLR 387 Ainsworth v Criminal Justice Commission (1992) 175 CLR 564