Jobema Developments Pty Limited v Zhu & Ors [2016] NSWSC 3

Supreme Court New South Wales

Medium Neutral Citation: Jobema Developments Pty Limited v Zhu & Ors [2016] NSWSC 3 Hearing dates: 6 and 11 January 2016 Decision date: 12 January 2016 Jurisdiction: Equity - Real Property List Before: Black J Decision: The application is dismissed. Catchwords: REAL PROPERTY – off the plan contract for sale – application by vendor for order permitting it to rescind off the plan contract for sale under a sunset clause pursuant to under s 66ZL of the Conveyancing Act 1919 (NSW) – where a previous developer sold land to the vendor – where vendor entered novation agreement assuming development and other obligations of the previous developer under existing off the plan contracts – whether rescission is just and equitable. Legislation Cited: - Conveyancing Act 1919 (NSW) ss 66ZL, 66ZL(4), 66ZL(6), 66ZL(7), sch 9 pt 9 ss 15, 16 - Conveyancing Amendment (Sunset Clauses) Act 2015 (NSW) Category: Principal judgment Parties: Jobema Developments Pty Limited (Plaintiff) Yuqi Zhu (First Defendant) Minming Dai (Second Defendant) Linyan Li (Third Defendant) Raymond Zhen Chong Wu (Fourth Defendant) Moling Qin (Fifth Defendant) Kun Shang (Sixth Defendant) Wuling Qin (Seventh Defendant) Min Wang (Eighth Defendant) Representation: Counsel: W. Van Ede (Solicitor) (Plaintiff) D. Hand (Solicitor) (First, Second, Third, Fifth, Sixth and Seventh Defendants) (6 January 2016 only)