Folari Pty Ltd & Anor v St Jude Property Investments Pty Ltd & Anor [2012] NSWCA 120

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Folari Pty Ltd & Anor v St Jude Property Investments Pty Ltd & Anor [2012] NSWCA 120 Hearing dates: 5 April 2012 Decision date: 03 May 2012 Before: McColl JA at [1] Whealy JA at [2] Tobias AJA at [75] Decision: (1) Appeal dismissed. (2) The appellants to pay the respondents' 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: JOINT VENTURE - appeal - joint venture to obtain development consent for residential units prior to sale - whether evidence supported apportionment of profit under joint venture - whether expenses to be deducted from account of net profit extended beyond time at which development consent was obtained to include expenses relating to subsequent sale or disposition - whether expenses relating to development consent included those that had accrued but not been paid - whether primary judge erred in calculation of 'sale price' for the purpose of accounting for net profit - whether orders made were justified. Cases Cited: Fox v Percy [2003] HCA 22; 214 CLR 118 Category: Principal judgment Parties: Folari Pty Ltd (First Appellant) Kevin Zouki (Second Appellant) St Jude Property Investments Pty Ltd (First Respondent) Michael Saklaoui (Second Respondent) Representation: Counsel: M. Cashion SC, S.F. Hughes (Appellants) A.F. Fernon (Respondents) Solicitors: Legal Recovery Solutions (Appellants) Shanahans Solicitors (Respondents) File Number(s): 2008/279220 Decision under appeal Jurisdiction: 9111 Citation: [2011] NSWSC 328 Date of Decision: 2011-04-20 00:00:00 Before: Tamberlin AJ File Number(s): 2008/279220