Bone v Wallalong Investments (No.2) [2012] NSWSC 203

Supreme Court New South Wales

Medium Neutral Citation: Bone v Wallalong Investments (No.2) [2012] NSWSC 203 Hearing dates: 23/02/2012 and 24/02/2012 Decision date: 12 March 2012 Jurisdiction: Equity Division - Commercial List Before: McDougall J Decision: Plaintiff entitled to judgment against all defendants for arrears of interest. Stand over for orders. Catchwords: VENDOR AND PURCHASER - contract for sale of land - whether plaintiff entitled to serve notice to complete - whether plaintiff ready, willing and able to complete on contract completion date or on dated fixed by notice to complete - whether plaintiff validly terminated contract by service of notice of termination - whether purchaser liable to pay interest from the extended date for completion, to the date of termination. GUARANTEE - enforceability - whether directors of purchaser gave enforceable guarantees to the plaintiff - cross-claim - whether guarantors, upon payment of the rateable share of the guaranteed obligation, have a right of exoneration. DAMAGES - whether plaintiff entitled to damages for loss of bargain. PROCEDURE - application for leave to amend - prejudice - whether, if permitted, amendments would raise fresh factual issues. Legislation Cited: Civil Procedure Act 2005 (NSW) Cases Cited: DTR Nominees Pty Ltd v Mona Homes Pty Ltd (1978) 138 CLR 423 Wright v Featherstone (1984) Q Conv R ¶54 - 118 Ex parte Robertson [1983] 1 Qd R 526 Category: Principal judgment Parties: David James Bone (Plaintiff) Christopher Alexander Moylan (Second Defendant) Leonard John Tomkins (Third Defendant) Representation: Counsel: EA Cheeseman / GJ O'Mahoney (Plaintiff) EA Walker (Second Defendant) A Ogborne (Third Defendant) Solicitors: Wilson & Co (Plaintiff) Osborn Jensen (Second Defendant) Roy Williams (Third Defendant) File Number(s): 2011/62339