PNC Lifestyle Investments Pty Limited v REW08 Projects Pty Limited [2017] NSWSC 27

Supreme Court New South Wales

Medium Neutral Citation: PNC Lifestyle Investments Pty Limited v REW08 Projects Pty Limited [2017] NSWSC 27 Hearing dates: 5, 6 December 2016 Date of orders: 02 February 2017 Decision date: 02 February 2017 Jurisdiction: Equity Before: Darke J Decision: The plaintiff is entitled to a decree of specific performance in respect of the contract for sale dated 13 June 2014. Catchwords: REAL PROPERTY – contracts for the sale of land – deposits – series of contracts – vendor terminates contracts on ground that purchaser failed to pay deposits – whether amount paid at time of entry into initial contract satisfied obligation to pay deposit under last contract

CONTRACTS – illegality – whether contract associated with or in furtherance of illegal purposes – series of contracts – last contract entered into as part of transaction designed to avoid an immediate liability for stamp duty and defer payment of duty – legislative regime does not provide for contract to be unenforceable – whether Court should nonetheless hold the contract to be unenforceable Legislation Cited: Duties Act 1997 (NSW) Taxation Administration Act 1996 (NSW) Cases Cited: Gnych v Polish Club Limited (2015) 255 CLR 414; [2015] HCA 23 Miro v Fu Pty Limited (2003) 11 BPR 21,231; [2003] NSWSC 1009 Wonall Pty Limited v Clarence Property Corporation Limited (2003) 58 NSWLR 23; [2003] NSWSC 497 Category: Principal judgment Parties: PNC Lifestyle Investments Pty Limited (Plaintiff) REW08 Projects Pty Limited (Defendant) Representation: Counsel: Mr J Doyle with Ms I J King (Plaintiff) Mr P Folino-Gallo with Mr A Djurdjevic (Defendant)