Scientific Management Associates (Australia) Pty Ltd v Macarthur Seniors Living Pty Ltd [2022] NSWSC 1626

Supreme Court New South Wales

Medium Neutral Citation: Scientific Management Associates (Australia) Pty Ltd v Macarthur Seniors Living Pty Ltd [2022] NSWSC 1626 Hearing dates: 28 November 2022 Decision date: 28 November 2022 Jurisdiction: Equity Before: Peden J Decision: By consent, the Court orders that: (1) Caveat AS216078 be extended until the defendants have paid to the plaintiff all money owing under the Loan. (2) First defendant has liberty to apply in relation to the Caveat, should any refinance be sought. The Court otherwise orders that: (1) Judgment for $1,442,161.88 against the defendants. (2) Interest at the rate of 6% from 15 May 2018 until payment of the judgment sum. (3) Defendants to pay plaintiff's costs of the proceedings on an indemnity basis. Catchwords: CONTRACT — Construction of loan agreement — Where vendor provided vendor finance — Where the precise loaned sum was disputed by the parties — Whether there was an event of default upon the appointment of receivers and managers enlivening termination of the loan and requiring payment — Where there was event of default Cases Cited: Westpac Banking Corporation v Diagne [2014] NSWSC 822 Category: Principal judgment Parties: Scientific Management Associates (Australia) Pty Ltd (Plaintiff) Macarthur Seniors Living Pty Ltd (First Defendant) Karen Vee Walker (Second Defendant) Representation: Counsel: C D Freeman (Plaintiff) P J Beazley, solicitor (Defendants)