GPT RE Ltd v Lend Lease Real Estate Investments Ltd & 1 Or [2005] NSWSC 964

New South Wales Supreme Court

CITATION : GPT RE Ltd v Lend Lease Real Estate Investments Ltd & 1 Or [2005] NSWSC 964

HEARING DATE(S) : 08/09/05

JUDGMENT DATE : 27 September 2005

Equity Division JURISDICTION : Commercial List

JUDGMENT OF : White J

DECISION : See Para 101 of judgment

CATCHWORDS : CONTRACT - Interpretation - Pre-emptive rights - Construction ejusdem generis - Whether conditional call option a disposition or alienation of an interest in property - Whether a party wishing to deal with its interest obliged to give a transfer notice - Whether provision merely facultative.

Corporations Act 2001 (Cth) LEGISLATION CITED : Crown Lands Act 1913 (NSW) Crown Lands Act Amendment Act 1917 (SA)

McKay v Wilson (1947) 47 SR (NSW) 315 Pritchard v Briggs [1980] Ch 338 Mercury Energy Ltd v Utilicorp NZ Ltd [1997] 1 NZLR 492 Perri v Coolangatta Investments Pty Ltd (1982) 149 CLR 537 Egan v Ross (1928) 29 SR (NSW) 382 Re Stayte [1997] 1 Qd R 99 Richardson v Cummins (1951) 15 ABC 185 Lang v Castle [1924] SASR 255 Credland v Potter (1874) LR 10 Ch 8 Laybutt v Amoco Australia Pty Ltd (1974) 132 CLR 57 Melacare Industries of Australia Pty Ltd v Daley Investments Pty Ltd (1995) 9 BPR 17,079 Commissioner of Taxes (QLD) v Camphin (1937) 57 CLR 127 Legione v Hately (1983) 152 CLR 406 KLDE Pty Ltd v Commissioner of Stamp Duties (Qld) (1984) 155 CLR 288 Kern Corporation Ltd v Walter Reid Trading Pty Ltd (1987) 163 CLR 164 Stern v McArthur (1988) 165 CLR 489 CASES CITED : Chan v Cresdon Pty Ltd (1989) 168 CLR 242 Chief Commissioner of Stamp Duties v ISPT Pty Ltd (1998) 45 NSWLR 639 Tanwar Enterprises Pty Ltd v Cauchi (2003) 77 ALJR 1853 Butts v O'Dwyer (1952) 87 CLR 267 Kuper v Keywest Constructions Pty Ltd & Anor (1990) 3 WAR 419 Jessica Holdings Pty Ltd v Anglican Property Trust Diocese of Sydney (1992) 27 NSWLR 140 Re Henderson's Caveat [1998] 1 Qd R 632 Forder & Ors v Cemcorp Pty Ltd (2001) 51 NSWLR 486 Sahade v BP Australia Pty Ltd (2004) 12 BPR 22,149 Lennox v Cameron (1997) 8 BPR 15,939; (1998) NSW Conv R 55-837 McWilliam v McWilliam's Wines Pty Ltd (1964) 114 CLR 656 Brown v Heffer (1967) 116 CLR 344 Kulamma v Manadan [1968] AC 1062 Redglove Projects Pty Ltd v Ngunnawal Local Aboriginal Council [2004] NSWSC 880 DKLR Holding Co. (No. 2) Pty Ltd v Commissioner of Stamp Duties [1980] 1 NSWLR 510 Re Transphere Pty Ltd (1986) 5 NSWLR 309 Re Sedgefield Steeplechase Co. Ltd [2000] 2 BCLC 211 Lyle & Scott Ltd v Scott's Trustees [1959] AC 763