Crawley v Short (No 2) [2010] NSWCA 97

New South Wales Court of Appeal

CITATION: Crawley v Short (No 2) [2010] NSWCA 97

HEARING DATE(S): 22 April 2010

JUDGMENT DATE: 7 May 2010

JUDGMENT OF: Allsop P at 1; Macfarlan JA at 2; Young JA at 18

The Court orders: (1) Order 1 made by the Court below on 12 September 2008 (as varied by Orders 1 and 2 made by the Court below on 26 November 2008) be varied as follows: a. in paragraph (a), subparagraph (i),'$5,068,362' be deleted and replaced with '$4,267,141'; and b. in paragraph (a), subparagraph (ii), '$6,374,772' be deleted and replaced with '$6,699,637'; (2) Order 1 made by the Court below on 26 November 2008 be varied by deleting '$11,443,134.00' and replacing it with '$10,966,778'; and (3) Within 21 days of the date of these Orders, by simultaneous exchange: DECISION: a. Mr Crawley make a payment to Nabatu for the increase in value of Nabatu's share in J & J O'Brien Pty Limited, together with interest at rates prescribed in Schedule 5 of the UCPR from 15 December 2008 up to the date of payment; and b. Nabatu make a payment to Mr Crawley for the decrease in value of Nabatu's share in Marsico Holdings Pty Limited, together with interest at rates prescribed in Schedule 5 of the UCPR from 15 December 2008 up to the date of payment; c. The parties may agree, in advance of the simultaneous exchange of payments in paragraphs 3(a) and 3(b) above, to the netting of payments due to each other in accordance with paragraph (4) below. The Court notes that: (4) On 15 December 2008, Mr Crawley paid to Nabatu the sum of $11,540,453.32 in satisfaction of Order 1 made by the Court below on 12 September 2008 as varied by Order 1 made by the Court below on 26 November 2008. Accordingly, in order for the parties to comply with Order 3 above: a. Mr Crawley is to pay to Nabatu the sum of $324,865 plus interest at rates prescribed in Schedule 5 of the UCPR from 15 December 2008 up to the date of payment; and b. Nabatu is to pay to Mr Crawley the sum of $801,221 plus interest at rates prescribed in Schedule 5 of the UCPR from 15 December 2008 up to the date of payment; and (5) There is to be no order as to the costs of the appeal and cross-appeal.