Cypjayne Pty Limited v Babcock & Brown International Pty Ltd [2011] NSWCA 173

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Cypjayne Pty Limited v Babcock & Brown International Pty Ltd [2011] NSWCA 173 Hearing dates: 9 June 2011 Decision date: 29 June 2011 Before: Chief Justice at 1; Macfarlan JA at 84; Young JA at 85. Decision: Appeal dismissed with 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: CONTRACTS - general contractual principles - construction and interpretation of contracts - meaning of 'reasonable commercial endeavours' - where a party withdraws from a proposed transaction because it is not in the party's commercial interests to proceed - whether 'reasonable commercial endeavours' have been used Legislation Cited: Aged Care Act 1997 (Cth), Pt 2.2. Trade Practices Act 1974 (Cth), s 52. Cases Cited: Bowes v Chaleyer [1923] HCA 15; (1923) 32 CLR 159. Cypjayne Pty Limited v Babcock & Brown International Pty Ltd [2010] NSWSC 180. Franklins Pty Limited v Metcash Trading Limited [2009] NSWCA 407; (2009) 76 NSWLR 603. Hospital Products Ltd v United States Surgical Corporation [1984] HCA 64; (1984) 156 CLR 41. Kyrwood & Ors v Drinkwater & Ors [2000] NSWCA 126. McCann v Switzerland Insurance Australia Ltd [2000] HCA 65; (2000) 203 CLR 579. Mitchell v Pattern Holdings Pty Limited [2002] NSWCA 212. Nina's Bar Bistro Pty Limited v MBE Corporation (Sydney) Pty Limited (1984) 3 NSWLR 613. Pacific Carriers Ltd v BNP Paribas [2004] HCA 35; (2004) 218 CLR 451. Peter Turnbull & Co Pty Limited v Mundus Trading Co (Australasia) Pty Ltd [1954] HCA 25; (1954) 90 CLR 235. Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd [2004] HCA 52; (2004) 219 CLR 165. Transfield Pty Limited v Arlo International Limited [1980] HCA 15; (1980) 144 CLR 83. Category: Principal judgment Parties: Cypjayne Pty Limited (1st Appellant) Edwin Paul Cayzer (2nd Appellant) Sverre Rodskog (3rd Appellant) B&L Trading Pty Limited (4th Appellant) D&C Properties Pty Limited (5th Appellant) Maurice Tulich (6th Appellant) Curtis Jack Mann (7th Appellant) David Brodie (8th Appellant) Babcock & Brown International Pty Ltd (1st Respondent) CAGCare Pty Limited (2nd Respondent) Babcock & Brown Australia Pty Ltd (3rd Respondent) Representation: Counsel: B A Coles QC / J J Young (Appellant) D B Studdy SC / K H Barrett (Respondent) Solicitors: Harris & Company Solicitors (Appellant) Watson Mangioni Lawyers Pty Ltd (Respondent) File Number(s): CA 2010/83998 Decision under appeal Jurisdiction: 9111 Citation: Cypjayne Pty Limited v Babcock & Brown International Pty Ltd [2010] NSWSC 180 Date of Decision: 2010-03-12 00:00:00 Before: Bryson AJ File Number(s): SC 2008/290462