Cordon v Lesdor [2010] NSWSC 1073

New South Wales Supreme Court

CITATION : Cordon v Lesdor [2010] NSWSC 1073

HEARING DATE(S) : 19/07/10, 20/07/10, 21/07/10, 23/07/10, 26/07/10, 27/07/10, 28/07/10, 29/07/10, 05/08/10; further written submissions 15/08/10 and 16/08/10

JUDGMENT DATE : 29 October 2010

JURISDICTION : Equity Division Technology & Construction List

JUDGMENT OF : McDougall J at 1

DECISION : Plaintiff's claim fails Defendant's cross-claim succeeds in part. Parties to bring in short minutes of order.

CATCHWORDS : CONTRACTS – construction – meaning of "completion" in deed – whether deed required completion in accordance with plans and specifications or only practical completion – relevance of doctrine of substantial performance – breach – whether plaintiff completed works in accordance with deed – whether plaintiff repudiated deed – where defendant terminated deed – whether defendant repudiated deed – whether defendant under implied obligation to act in good faith – whether plaintiff breached obligations in respect of financial accommodation needed to fund development – whether wrongful interference by defendant – whether plaintiff in breach of fiduciary duties in draw down on bank facility and application of some of proceedings – whether defendant breached obligations under interim management agreement – whether plaintiff suffered loss – amount of loss. - EQUITY - fiduciary obligations - whether fiduciary obligations are imposed in commercial context - relevance of terms of contract. - REMEDIES – restitution – whether defendant unjustly enriched at plaintiff's expense – quantum meruit. - DAMAGES – whether defendant suffered loss – mitigation of loss – whether plaintiff suffered loss. - PRACTICE AND PROCEDURE – references – adoption of referee's report.