Natuna Pty Ltd v Cook [2007] NSWSC 121

New South Wales Supreme Court

CITATION : Natuna Pty Ltd v Cook [2007] NSWSC 121

HEARING DATE(S) : 4-12 December 2006; 20 December 2006; 2 February 2007

JUDGMENT DATE : 23 February 2007

JUDGMENT OF : Biscoe AJ

DECISION : Judgment for plaintiff for $228,361.66. Defendant to pay 75% of plaintiff's costs of its claim. Cross-claim and second cross-claim dismissed with costs.

CATCHWORDS : CONTRACT - joint venturers obtained rezoning and subdivision development consent for adjoining rural lands owned by each - further anticipated venture to jointly subdivide lands prevented by one party selling its land - whether variation of agreement as to proportionate liability for joint costs already incurred - whether agreement to pay interest on loan raised to pay for joint costs - whether agreement to pay compensation for land contributions contemplated by development consent - whether agreement to provide lands to construct access road - whether agreements re future joint costs, compensation and access road predicated on future joint development - whether agreements intended to be contractually binding. ESTOPPEL - promissory estoppel - whether defendant estopped from denying that plaintiff took out loan and incurred interest in reliance upon defendant's representation that he would contribute to interest costs - whether plaintiff estopped from denying that it is obliged to compensate defendant for land which development consent contemplated defendant would contribute for relocation of mangroves from plaintiff's land. MISLEADING AND DECEPTIVE CONDUCT - whether representations to pay compensation misleading and deceptive - whether representations predicated upon continuance of joint development. RESTITUTION - unjust enrichment - whether either party entitled to compensation for land which development consent contemplated that each party would contribute for non-residential lot use. REAL PROPERTY - caveat - compensation - caveat lodged over defendant's land by plaintiff to secure payment of proportion of costs and interest paid by plaintiff for rezoning and development applications - whether caveat lodged without reasonable cause - subjective and objective elements to test of honest belief on reasonable grounds - no evidence of lack of honest belief - reasonable grounds for lodgement.