Investmentsource v Knox Street Apartments [2007] NSWSC 1214

New South Wales Supreme Court

CITATION : Investmentsource v Knox Street Apartments [2007] NSWSC 1214

HEARING DATE(S) : 23, 24, 25, 26 and 27 July 2007

JUDGMENT DATE : 31 October 2007

JURISDICTION : Equity Division Commercial List

JUDGMENT OF : McDougall J at 1

DECISION : See paragraphs [272], [274] of judgment

CATCHWORDS : CONTRACTS – Joint venture – Agreement relating to property development – Dispute over net proceeds and order of distribution – Where joint venture relationship constituted by joint venture agreement and associated agreements – Intention of parties – Construction and effect of agreements – Where inconsistency between agreements – Whether breach of obligations under joint venture agreement – Whether damage proved to have been caused.

LEGISLATION CITED : A New Tax System (Goods and Services) Act 1999 (Cth)

Australian Broadcasting Commission v Australasian Performing Right Association Limited (1973) 129 CLR 99 Chacmol Holdings Pty Ltd v Handberg (2005) 215 ALR 748 CASES CITED : Commercial Union Assurance Company of Australia Ltd v Ferrcom Pty Ltd (1991) 22 NSWLR 389 Investmentsource Corporation Pty Ltd v Knox Street Apartments (2002) 56 NSWLR 27 Mackay v Dick (1881) 6 App Cas 251

Marcel Esber (First Plaintiff) Joseph Esber (Second Plaintiff) PARTIES : Casanda Pty Ltd (Third Plaintiff) Kimberley Securities Limited (First Defendant) Residential Housing Corporation Ltd (Second Defendant) RP and PM Flexman (Fifth Defendants)

FILE NUMBER(S) : SC 50049/02 & 50110/06

T G R Parker SC / S Fendekian (Plaintiffs) COUNSEL : B A Coles QC / G A Sirtes (First Defendant) D A Smallbone / K A Bagley (Fifth Defendants) (Flexmans)