J P Morgan Australia Ltd v Consolidated Minerals Pty Ltd [2011] NSWCA 3

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: J P Morgan Australia Ltd v Consolidated Minerals Pty Ltd [2011] NSWCA 3 Hearing dates: 2 and 3 December 2010 Decision date: 08 February 2011 Before: Campbell JA [1]; Macfarlan JA [2]; Young JA [124] Decision: The appeal is dismissed with no order as to costs. [Note: The Uniform Civil Procedure Rules 2005 provide (Rule 36.11) that unless the Court otherwise orders, a judgment or order is taken to be entered when it is recorded in the Court's computerised court record system. Setting aside and variation of judgments or orders is dealt with by Rules 36.15, 36.16, 36.17 and 36.18. Parties should in particular note the time limit of fourteen days in Rule 36.16.] Catchwords: CONTRACT - construction and interpretation - contra proferentem rule - agreement by investment banker to advise takeover target - bidding war - calculation of fees

CONTRACT - whether claim by investment banker for fees settled by accord and satisfaction - whether banking of cheque proffered in part payment of invoiced amount precluded claim for balance Legislation Cited: Foreign Acquisitions and Takeovers Act 1975 (Cth) Cases Cited: Australian Broadcasting Commission v Australasian Performing Right Association Ltd [1973] HCA 36; (1973) 129 CLR 99 Burswood Management Ltd v Attorney General (Cth) [1990] FCA 203; (1990) 23 FCR 144 Claremont Petroleum NL v Cummings [1992] FCA 446; (1992) 110 ALR 239 Codelfa Constructions Pty Ltd v State Rail Authority of NSW [1982] HCA 24; (1982) 149 CLR 337 Darlington Futures Ltd v Delco Australia Pty Ltd [1986] HCA 82; (1986) 161 CLR 500 Elkateb v Lawindi (1997) 42 NSWLR 396 Ermogenous v Greek Orthodox Community of SA Inc [2002] HCA 8; (2002) 209 CLR 95 Franklins Pty Ltd v Metcash Trading Ltd [2009] NSWCA 407; (2009) 264 ALR 15 Galea v Bagtrans Pty Ltd [2010] NSWCA 350 Hatfield v Health Insurance Commission (1987) 15 FCR 487 Health Insurance Commission v Freeman [1998] FCA 1340; (1998) 158 ALR 267 Jones v Dunkel [1959] HCA 8; (1959) 101 CLR 298 Nissho Iwai Australia Ltd v Malaysian International Shipping Corporation [1989] HCA 32; (1989) 167 CLR 219 R v Isaac; Ex parte Transport Workers' Union [1985] HCA 80; (1985) 159 CLR 323 R v Orcher [1999] NSWCCA 356; (1999) 48 NSWLR 273 Rustenburg Platinum Mines Ltd v South African Airways [1979] 1 Lloyd's Rep 19 Thomas v State of New South Wales [2008] NSWCA 316; (2008) 74 NSWLR 34 Texts Cited: J Beatson, A Burrows and J Cartwright, Anson's Law of Contract, 29th ed (2010) Oxford University Press Category: Principal judgment Parties: J P Morgan Australia Pty Ltd (Appellant) Consolidated Minerals Pty Ltd (Respondent) Representation: T F Bathurst QC/K H Barrett (Appellant) R G McHugh SC/E C Muston (Respondent) Allens Arthur Robinson (Appellant) Gadens Lawyers (Respondent) File Number(s): CA 2008/290396 Decision under appeal Citation: J P Morgan Australia Limited v Consolidated Minerals Limited [2010] NSWSC 100 Date of Decision: 2010-03-26 00:00:00 Before: Hammerschlag J File Number(s): SC 2008/290396