Cannavo v FCD (Holdings) P/L & 4 Ors [2000] NSWSC 304

New South Wales Supreme Court

CITATION : Cannavo v FCD (Holdings) P/L & 4 Ors [2000] NSWSC 304 revised - 13/04/2000 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 5206/99 HEARING DATE(S) : 04/04/00, 06/04/00 JUDGMENT DATE : 10 April 2000

Joseph Cannavo (Plaintiff) FCD (Holdings) Pty Limited (ACN 082 344 992) (First Defendant) PARTIES : John Edgeley Newton (Second Defendant) Patricia Evelyn Page (Third Defendant) Jason Luther Page (Fourth Defendant) Savetime Products Pty Limited (ACN 090 639 400) (Fifth Defendant) JUDGMENT OF : Santow J

COUNSEL : S J Archer/G Lucarelli (Plaintiff) S J Motbey (Defendants) SOLICITORS : Serio & Associates (Plaintiff) J Biady & Associates (Defendants) CATCHWORDS : EQUITY — Injunction — Interlocutory orders to maintain status quo where specific performance later to be sought of contract to allot 25% equity in joint venture company to exploit an invention — Fundamental requirement that plaintiff be appointed as managing director and co-signatory — No serious question to be tried that plaintiff would be allowed specific performance where plaintiff effectively repudiates contract by requiring power to override majority so as to assert erroneous interpretation — Lack of readiness and willingness to perform —Specific performance also precluded for non-severable appointment as managing director and for on-going joint venture or partnership obligations necessarily entailed — mutuality principles. ANZ Executors & Trustees Ltd v Hulmes Ltd [1990] VR 615 Australian National Airlines Commission v Robinson [1977] VR 87 Federal Commerce and Navigation Co Ltd v Molena Alpha Inc [1979] AC 757 Forrestt & Son Ltd v Aramayo (1900) 83 LT 335 Hensley v Reschke (1914) 18 CLR 452 CASES CITED : J C Williamson Ltd v Sukey and Mulholland (1931) 45 CLR 282 Jefferson v Paskell [1916] 1 KB 57 John J Starr (Real Estate) Pty Ltd v Robert R Andrew (A'asia) Pty Ltd and others (1991) 6 ACSR 63 Mehmet v Benson (1965) 113 CLR 295 Ross T Smyth & Co Ltd v T D Bailey Son & Co [1940] 3 All ER 60 Stanton v Richardson (1872) LR 7 CP 421 at 433 (affirmed (1874) LR 9 CP 390; (1875) 45 LJ CP 78) DECISION : Application for interlocutory relief fails. No serious question to be tried.