Kisimul Holdings Pty Limited v Simms [2016] NSWSC 814

Supreme Court New South Wales

Medium Neutral Citation: Kisimul Holdings Pty Limited v Simms [2016] NSWSC 814 Hearing dates: 20 June 2016 Decision date: 21 June 2016 Before: Ball J Decision: (1) A declaration that a valid and immediately binding settlement agreement came into effect on 14 June 2016 between the plaintiff and the fourth, fifth, sixth and seventh defendants (collectively referred to as the Bank Defendants) respectively upon the acceptance by the plaintiff of the without prejudice offer made on behalf of the Bank Defendants by letter of 11 June 2016 (the Settlement Agreement). (2) An order that the Bank Defendants specifically perform and carry into effect the Settlement Agreement. (3) An order that the Bank Defendants immediately provide to the plaintiff a draft deed in compliance with clause 1.12 of the letter of 11 June 2016, and thereafter act in a bona fide manner in concluding and agreeing the terms thereof, and as to a Consent Order to dispose of the proceedings. (4) The Bank Defendants pay the plaintiff's costs of the notice of motion filed 16 June 2016. Catchwords: SETTLEMENT - whether reached – application of the principles in Masters v Cameron Cases Cited: Calderbank v Calderbank [1975] 3 All ER 333 Masters v Cameron [1954] 91 CLR 353 Category: Procedural and other rulings Parties: Kisimul Holdings Pty Limited (ABN 85 076 467 457) (Plaintiff) Thomas Craig Simms (First Defendant) Sonia Simms (Second Defendant) Sonia Simms Pty Ltd (Third Defendant) Rural Bank Limited (ACNN 083 938 416) (Fourth Defendant) John Marshall (Fifth Defendant) Jason O'Sullivan (Sixth Defendant) Paul Hutchinson (Seventh Defendant) Representation: Counsel: LV Gyles SC (Plaintiff) MC Hoffmann QC with J Hynes (Fourth, Sixth and Seventh Defendants) (mentioned on behalf of Fifth Defendants)