Arida v Arida & Ors; Arida v Arida & Ors (No. 2) [2014] NSWSC 579

Supreme Court New South Wales

Medium Neutral Citation: Arida v Arida & Ors; Arida v Arida & Ors (No. 2) [2014] NSWSC 579 Hearing dates: 28 April 2014 Decision date: 13 May 2014 Jurisdiction: Equity Division Before: Slattery J Decision: No interest is payable to the vendor-trustees upon the settlement of the Church Street contract from the revised completion date set by the Heads of Agreement of 24 December 2013. Costs follow the event in relation to the Interest Motion issues determined 4 April 2014. Each party to bear his own costs of the Citibank Motion. Catchwords: CONTRACT - vendor and purchaser - construction of agreement - whether interest accrues to the vendor during the period from the revised completion date set under the contract of 24 December 2013 and its actual completion date - contractual entitlement to interest depends on whether vendor 'ready, willing and able' to complete and whether vendor in default - COSTS - general rule that costs follow the event - whether the general rule is displaced because the issues on the Interest Motion are analogous with the determination of a dispute concerning a trust fund - whether each party should bear his own costs after the settlement of the Citibank Motion. Legislation Cited: Property (Relationships) Act 1984 Succession Act 2006, Part 3.2 Trustee Act, s 63 Uniform Civil Procedure Rules 2005, r 42.1 Cases Cited: Amaya v Everest Property Holdings Pty Ltd [2010] NSWCA 315 Arida v Arida & Ors; Arida v Arida & Ors [2014] NSWSC 395 Baker v Tawle (2008) 39 Fam LR 323 Foran v Wight (1989) 168 CLR 385 Harrison v Mills [1976] 1 NSWLR 42 Hartigan Nominees Ltd v Rydge (1992) 29 NSWLR 405 In Re Buckton; Buckton v Buckton [1907] 2 Ch 406 Macedonian Orthodox Community Church St Petka Incorporated v His Eminence Petar The Diocesan Bishop of Macedonian Church Diocese of Australia and New Zealand (2008) 237 CLR 66 Marley v Mutual Security Merchant Bank and Trust Co Ltd [1991] 3 All ER 198 McDonald v Horn [1995] 1 All ER 961 Re Earl of Stafford & Maples [1896] 1 Ch 235 Re Hetling & Merton's Contract [1893] 3 Ch 269 Re Hewitt's Contract [1963] 3 All ER 419 Re Minister for Immigration and Ethnic Affairs; Ex Parte Lai Qin (1997) 186 CLR 622 Re Wilsons & Stevens Contract [1894] 3 Ch 546 Re Woods' and Lewis' Contract [1898] 2 Ch 211 Re Young & Harston's Contract [1885] 29 Ch 691 Sherborne Estate (No. 2); Re Vanvalen v Neaves (2005) 65 NSWLR 268 Category: Costs Parties: Plaintiff: Tony Arida First Defendants: Sid Arida Second Defendant: Joseph Arida Third Defendant: George Arida Fourth Defendant: Bruce Gleeson Fifth Defendant: David Graham Shannon Representation: Counsel: Plaintiff: M.A. Jones SC; V. McWilliam Solicitors: Plaintiff: Pierre Tohme, Greenaway and Tohme Defendants: Marc Ryckmans, Somerset Ryckmans File Number(s): 2011/109699; 2010/266736 Publication restriction: No