Kenway Investments & Anor v Teamda Developments & Ors [2007] NSWSC 48

New South Wales Supreme Court

CITATION : Kenway Investments & Anor v Teamda Developments & Ors [2007] NSWSC 48 This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 11/12/2006, 12/12/2006, 13/12/2006, 14/12/2006, 15/12/2006

JUDGMENT DATE : 9 February 2007

JUDGMENT OF : McDougall J at [1]

DECISION : Orders made 15 December. Reasons for judgment, see conclusion paras [86] and [87] herein

CATCHWORDS : PARTNERSHIP - where relationship between joint venturers was one of partnership - where loans made to partnership - whether amounts owing should be established on the taking of accounts - whether conduct of fiduciary agent warrants taking of accounts - where loss of capital likely - whether orders for repayment of loans should be made before taking of accounts and ascertainment of extent of any loss - rule in Cherry v Boultbee (1839) 4 My & Cr 442

LEGISLATION CITED : Partnership Act 1892

CASES CITED : Cherry v Boultbee (1839) 4 My & Cr 442; 41 ER 171 Re Peruvian Railway Construction Co Ltd [1915] 2 Ch 144

Kenway Investments (Australia) Pty Limited (First Plaintiff) Tradelite Investments (Australia) Pty Limited (Second Plaintiff) Teamda Development Pty Limited (First Defendant) Liwa Pty Limited (Second Defendant) Konnie Pty Limited (Third Defendant) PARTIES : Glisan Pty Ltd (Fourth Defendant) Wen Kai Tan (Fifth Defendant) Hong Ying Ruan (Sixth Defendant) Wen Hui Tan (Seventh Defendant) Lawrence Luk (Eighth Defendant) Watsin International Pty Limited (Ninth Defendant)