EW Blanch Pty Ltd and Anor v Robert Ashley Cooper and Anor [2004] NSWSC 631

New South Wales Supreme Court

CITATION : EW Blanch Pty Ltd and Anor v Robert Ashley Cooper and Anor [2004] NSWSC 631 HEARING DATE(S) : 24, 25, 26, 28 & 31 May 2004. 1 & 3 June 2004. JUDGMENT DATE : 29 July 2004

JURISDICTION: Equity Division Commercial List JUDGMENT OF : Bergin J DECISION : See para 226

CATCHWORDS : [CONTRACT] - Claims that the first defendant breached certain sale warranty clauses of a Share Sale Agreement with the first plaintiff whereby he sold to the plaintiff shares in an insurance broking company - Construction of clause in Agency Agreement requiring broker to transfer to insurer "money paid" to it by insureds - Provision for adjustment of purchase price reliant upon certain figures shown in "Specified Accounts" - Whether 'substantial performance' of Share Sale Agreement sufficient to trigger operation of clause adjusting puchase price - Whether Share Sale Agreement contained an implied duty to co-operate in the doing of acts necessary to the performance by the parties of fundamental obligations under the contract. - [TRADE PRACTICES] - Claims that the first defendant engaged in misleading and deceptive conduct by making representations in respect of the status of the relationship between the subject company and the insurer - Whether reliance by first plaintiff on representations. LEGISLATION CITED : Mining Act 1978 (W.A.) Trade Practices Act 1974 (Cth) Ankar Pty Ltd & Anor v National Westminster Finance (Australia) Ltd (1987) 162 CLR 549 Ansett Transport Industries (Operations) Pty Ltd v Commonwealth of Australia (1977) 139 CLR 54 Arcos Ltd v E.A. Ronaasen & Son [1933] AC 470 BP Refinery (Westernport) Pty Ltd v Shire of Hastings (1977) 180 CLR 266 Butt v M'Donald (1896) 7 QLJ 68 Codelfa Constructions Pty Ltd v State Rail Authority of NSW (1982) 149 CLR 337 Commonwealth v Amann Aviation Pty Ltd (1991) 174 CLR 64 CASES CITED : Henville v Walker (2001) 206 CLR 459 Hunter Resources Ltd v Melville (1987) 164 CLR 234 Mackay v Dick (1881) 6 App Cas 251 Newmont Pty Ltd v Laverton Nickel NL [1983] 1 NSWLR 181 Pan Foods Company Importers & Distributors Pty Ltd v Australia and New Zealand Banking Group Ltd (2000) 170 ALR 579 RDJ International Pty Ltd v Preformed Line Products (Australia) Pty Ltd (1996) 39 NSWLR 417 Secured Income Real Estate (Australia) Ltd v St Martins Investments Pty Ltd (1979)144 CLR 596 South Sydney Council v Royal Botanic Gardens & Anor (1999) 10 BPR 18,961; [(2002) 76 ALJR 436] Tricontinental Corporation Ltd v HDFI Ltd (1990) 21 NSWLR 689 EW Blanch Pty Limited (First Plaintiff) ACN 002 544 569 Pty Ltd (Second Plaintiff) PARTIES : Robert Ashley Cooper (First Defendant) Maco Consulants Pty Ltd (Second Defendant)