Croftstar Pty Ltd as trustee for The Croftstar Investment Trust v Norfeld Pty Ltd [2023] NSWSC 143

Supreme Court New South Wales

Medium Neutral Citation: Croftstar Pty Ltd as trustee for The Croftstar Investment Trust v Norfeld Pty Ltd [2023] NSWSC 143 Hearing dates: 5 December 2022 Decision date: 27 February 2023 Jurisdiction: Equity Before: Robb J Decision: The plaintiff is entitled to the substantive orders that it seeks in the summons. The plaintiff is invited to submit draft short minutes of order to give effect to the reasons for judgment, and to deal with quantification of costs. The parties are to provide written submissions regarding orders for indemnity costs. Catchwords: LAND LAW — conveyancing — contract for sale — completion — where the plaintiff seeks orders requiring the defendant to perform its obligations under a deed — where the plaintiff seeks declaration that it has paid a deposit for the purchase of real property Legislation Cited: Civil Procedure Act 2005 (NSW), ss 94, 98(4)(c) Category: Principal judgment Parties: Croftstar Pty Ltd ACN 060 918 863 as trustee for The Croftstar Investment Trust (Plaintiff)

Norfeld Pty Ltd ACN 003 792 229 (Defendant) Representation: Counsel: M Bennett (Plaintiff)

Solicitors: Cordato Partners Lawyers (Plaintiff)

J Preston, director of defendant company (self-represented) File Number(s): 2022/00194696

JUDGMENT

Relief claimed 1. The plaintiff, Croftstar Pty Ltd, as trustee for The Croftstar Investment Trust, (Croftstar) commenced these proceedings against Norfeld Pty Ltd (Norfeld) by summons filed in Court on 4 July 2022. 2. By prayer 1 of its summons, Croftstar seeks a declaration that, on 28 May 2020, it entered into a contract by deed of that date ("the Deed") pursuant to which Norfeld agreed to sell certain land at Silverwater ("the Property") to Croftstar for the sum of $9,680,000, less $120,000 that Croftstar is entitled to retain at settlement. (It may be this statement of the price is implicitly inclusive of GST, as the Deed states that the price was $8,800,000, exclusive of GST). 3. Prayer 2 seeks a declaration that Croftstar has paid $880,000 to Norfeld by way of deposit in accordance with the agreement. 4. By prayer 3 Croftstar seeks an order that Norfeld do all things necessary to enable settlement of the transfer of the Property to Croftstar unencumbered, and with clear title, within 28 days. 5. Failing Norfeld's compliance with that order, Croftstar seeks by prayer 4 an order pursuant to s 94 of the Civil Procedure Act 2005 (NSW) directing the Registrar to execute on behalf of Norfeld all documents necessary to cause the Property to be transferred to Croftstar. 6. Prayer 5 seeks an order that Norfeld pay Croftstar's costs of the proceedings on the indemnity basis, or alternatively on the ordinary basis, and that such costs may be set off against the sum payable by Croftstar under the Deed.