Taylor Square TT Pty Ltd v Kinselas Pty Ltd [2024] NSWSC 799

Supreme Court New South Wales

Medium Neutral Citation: Taylor Square TT Pty Ltd v Kinselas Pty Ltd [2024] NSWSC 799 Hearing dates: 18 June 2024 Date of orders: 28 June 2024 Decision date: 28 June 2024 Jurisdiction: Equity - Expedition List Before: Rees J Decision: Decline to order specific performance against guarantor at the same time as principal obligors; adjourn proceedings until after date for specific performance by obligors. Catchwords: SPECIFIC PERFORMANCE – contracts for sale of land and businesses for $61M – director of corporate purchasers gives guarantee – purchasers fail to complete – portion of deposit also unpaid – orders for specific performance made against purchasers –whether specific performance should be ordered against guarantor as well – authorities considered at [57]-[66] – whether concurrent liability of purchasers and guarantor exists – whether guarantor directly liable to vendors – decline to order specific performance by guarantor until after date for specific performance by purchasers – adjourn proceedings. Cases Cited: Baeg v Wink Singh Pty Ltd [2024] NSWSC 589 Bankstown City Council v Alamdo Holdings Pty Ltd (2005) 223 CLR 660 Bowman Development Corporation Pty Ltd v Young Forever Property Pty Ltd [2020] QDC 73 Bowman Development Corporation Pty Ltd v Young Forever Property Pty Ltd (No 2) [2020] QDC 77 Coulls v Bagot's Executor & Trustee Co Ltd (1967) 119 CLR 460 Evans Marshall & Co Ltd v Bertola SA [1973] 1 WLR 349 Fairborne Pty Ltd v Strata Store Noosa Pty Ltd [2009] QSC 250 J C Williamson v Lukey [1931] VLR 221 Lucas Stuart Pty Ltd v Hemmes Hermitage Pty Ltd (2012) 28 BCL 226; [2010] NSWCA 283 McGuinness v Norwich and Peterborough Building Society [2012] 2 All ER (Comm) 265 Paolucci v Makedyn Pty Ltd (2021) 20 BPR 41,749 Ryan v UPG 322 Pty Ltd [2023] NSWSC 1293 Sunbay Projects Pty Ltd v PR Wieland Holdings Pty Ltd [2010] QSC 368 Sunbird Plaza Pty Limited v Maloney (1989) 166 CLR 245; [1988] HCA 11 Tullett Prebon (Australia) Pty Ltd v Purcell (2008) 175 IR 424; [2008] NSWSC 852 Texts Cited: R E Megarry (1960) 76(302) The Law Quarterly Review Debra Ronan, Conveyancing Law and Practice (2nd ed, 2021, Lawbook Co) Category: Costs Parties: Taylor Square TT Pty Ltd (First Plaintiff) Taylor Square Fund Pty Ltd (Second Plaintiff) Kinselas Pty Ltd (First Defendant) Kinselas Management Pty Ltd (Second Defendant) The Courthouse (NSW) Pty Ltd (Third Defendant) The Courthouse Management Pty Ltd (Fourth Defendant) Mark Toma (Fifth Defendant) Representation: Counsel: V Whittaker SC/ TJ Boyle (Plaintiffs) M Pesman SC/ DA Allen (Defendants)