AKM Investments Group Pty Ltd v Grewal [2024] NSWDC 144

District Court New South Wales

Medium Neutral Citation: AKM Investments Group Pty Ltd v Grewal [2024] NSWDC 144 Hearing dates: 9, 10, 11 May; 21, 22 June; 4 August 2023 Date of orders: 12 April 2024 Decision date: 12 April 2024 Jurisdiction: Civil Before: Andronos SC DCJ Decision: (1) Judgment for the plaintiffs as against the second defendant in the sum of $221,945.51, inclusive of interest. (2) Judgment for the first defendant against the plaintiffs. (3) Costs be reserved. (4) Direct the parties to liaise with each other and provide to my associate: (a) an agreed costs order; or (b) an agreed timetable for the filing and service of evidence and submissions on costs, by 26 April 2024. Catchwords: CONTRACTS – Express Terms – Oral – Loan or equity investment – Interest Legislation Cited: Civil Procedure Act 2002 (NSW), s 100 Uniform Civil Procedure Rules 2005, r 42.1 Cases Cited: Blatch v Archer [1774] 98 ER 969 at 970; (1774) 1 Cowp 63 Briginshaw v Briginshaw [1938] HCA 34; (1938) 60 CLR 336 Carapark Holdings Ltd v Commissioner of Taxation (Cth) [1967] HCA 5; (1967) 115 CLR 653 Central City Pty Ltd v Montevento Holdings Pty Ltd [2011] WASCA 5 Dirensson Pty Ltd v Hassan El Dirani [2019] NSWSC 617 Fox v Percy (2003) 214 CLR 118 Helton v Allen [1940] HCA 20; (1940) 63 CLR 691 Heydon v Perpetual Executors Trustees & Agency Co (WA) Ltd (1930) 45 CLR 111 In the matter of Central Management (NSW) Pty Ltd (in liquidation) ACN 139 989 852 [2017] NSWSC 1258 John Holland Pty Limited v Kellogg Brown & Root Pty Ltd [2015] NSWSC 451 Maria Saravinovksa v Krste (Chris) Saravinovski; Chris Saravinovski v George Saravinovski (No 6) [2016] NSWSC 964 Moser v Ky [2021] NSWSC 1634 Nguyen v Cosmopolitan Homes [2008] NSWCA 246 Onassis and Calogeropoulos v Vergottis [1968] 2 Lloyd's Rep 403 Schmierer v Taouk [2004] NSWSC 345; (2004) 207 ALR 301 Seldon v Davidson [1968] 2 All ER 755 The Nominal Defendant v Cordin [2017] NSWCA 6 Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd [2004] HCA 52; (2004) 219 CLR 165 Transport Industries Insurance Co Ltd v Longmuir [1997] 1 VR 125 Watson v Foxman (1995) 49 NSWLR 315 Category: Principal judgment Parties: AKM Investments Group Pty Ltd (first plaintiff) Gurinder Pal Singh Gaba (second plaintiff) Kamalpreet Grewal (first defendant) Tapinder Singh also known as Sippy Grewal (second defendant) Representation: Counsel: Ms K Young (plaintiffs) Ms R Wilson (defendants)