NSW Caselaw
New South Wales Supreme Court
CITATION : Liquor National Wholesale Pty Ltd v The Redrock Co Pty Ltd [2007] NSWSC 392
HEARING DATE(S) : 14-15 March 2007 JURISDICTION : Equity Division Duty Judge List
JUDGMENT OF : Brereton J
EX TEMPORE JUDGMENT DATE : 19 March 2007
DECISION : Appointment of receiver and injunction restraining defendant from carrying on joint venture business declined on balance of convenience. Defendants to have interim conduct of joint venture business and maintain accounts. Defendants to account with verification for their interim conduct of business. Plaintiff restrained from carrying on business under name of joint venture. Plaintiff relieved from undertaking as to damages.
CATCHWORDS : PARTNERSHIP – joint venture – where Heads of Agreement provide for incorporation of joint venture vehicle – where vehicle not incorporated but parties proceed substantially in accordance with Heads of Agreement – where relationship breaks down – who is entitled to name and goodwill of joint venture business - RECEIVERS – whether appointment should be declined on basis that it would be ruinous - INJUNCTIONS – Interlocutory injunctions – undertaking as to damages – dissolution of joint venture – where one party to retain conduct of business in interim for benefit of joint venture – both parties restrained from exploiting commercial opportunities for separate benefit – where Defendant declines to offer undertaking as to damages as condition of corresponding restraint on Plaintiff – Plaintiff relieved from undertaking as to damages
Alcock v Robb (1978) 2 BPR 9625 Australian Broadcasting Corp v O'Neill [2006] HCA 46 Barnes v Addy (1874) LR 9 Ch App 244 Chan v Zacharia (1984) 154 CLR 178 Cuming v Hennessy [2005] NSWSC 1219 Davey v Donnelly (NSWSC, McLelland J, 16 May 1991, unreported) CASES CITED : Fitz-Gibbon v Khoury (NSWSC, Powell J, 1 March 1985, unreported) Henry v Stewart (NSWSC, Cohen J, 9 June 1995, unreported) Keech v Sandford (1726) 25 ER 223 Muschinski v Dodds (1985) 160 CLR 583 Rowlands v MacDonald [2002] NSWSC 282 Sobell v Boston [1975] 2 All ER 282 Tate v Barry (1928) 28 SR 380 United Dominions Corp Ltd v Brian Pty Ltd (1985) 157 CLR 1
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