In the matter of Italian Forum Limited (subject to a deed of company arrangement) [2015] NSWSC 1386

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Italian Forum Limited (subject to a deed of company arrangement) [2015] NSWSC 1386 Hearing dates: 31 July 2015 Date of orders: 14 August 2015 Decision date: 14 August 2015 Jurisdiction: Equity - Corporations List Before: Rein J Decision: See [44] Catchwords: EQUITY - Corporations - Application for Directions - Contract to Sell Land - Conditions Precedent to the Sale Contract - Unpaid Vendor Contributions - Debt has not Accrued - The Difference between a Debt Accruing and an Obligation being Incurred Legislation Cited: Strata Schemes (Freehold Development) Act 1973 (NSW) Cases Cited: Austral Masonry (NSW) Pty Ltd v Cementech Pty Ltd [2014] FCAFC 72 FPM Constructions Pty Ltd v Council of the City of Blue Mountains [2005] NSWCA 340 Idya Pty Ltd v Anastasiou [2008] NSWCA 102 Macquarie International Health Clinic Pty Ltd v Sydney South West Area Health Service [2010] NSWCA 268 McDonald v Dennys Lascelles Ltd (1933) 48 CLR 457 R & R Fazzolari Pty Ltd v Parramatta City Council; Mac's Pty Ltd v Parramatta City Council [2009] HCA 12; (2009) 237 CLR 603 R v Young [1999] NSWCCA 166; (1999) 46 NSWLR 681 Roberts v Investwell Pty Ltd (in liq) [2012] NSWCA 134 Westralian Farmers Ltd v Commonwealth Agricultural Service Engineers Ltd (in liq) (1936) 54 CLR 361; [1936] HCA 6 Texts Cited: Nil Category: Principal judgment Parties: Stephen Wesley Hathway (First Plaintiff) Italian Forum Limited (subject to a deed of company arrangement) (Second Plaintiff) The Owners Strata Plan No 60919 (First Defendant) The Owners Strata Plan No 60918 (Second Defendant) Perpetual Trustee Company Limited (Third Defendant) CoAslt Italian Association of Assistance (Fourth Defendant) Representation: Counsel: E. Finnane (Plaintiffs) H. Collins (First Defendant) (Solicitor) P. Bard (Third Defendant) (Solicitor) R.J Carruthers (Fourth Defendant)