V8 Supercars Holdings Pty Ltd v Sanpoint Pty Ltd [2017] NSWSC 1043

Supreme Court New South Wales

Medium Neutral Citation: V8 Supercars Holdings Pty Ltd v Sanpoint Pty Ltd [2017] NSWSC 1043 Hearing dates: 10, 11 and 12 April 2017. Decision date: 10 August 2017 Jurisdiction: Equity Before: Robb J Decision: The parties are required to bring in short minutes of order to give effect to these reasons for judgment. See in particular par 425. Catchwords: CONTRACTS – Breach of contract – Where cross claimant racing team surrendered racing entitlement contract to cross defendant organisation – Where cross defendant tendered cross claimant's contract – Where cross defendant was obliged to ensure that the price paid for the contract was 'as commercially advantageous as possible having regard to the current market situation by offering the Contract to the market by tender' – Whether cross defendant breached obligation.

CIVIL PROCEDURE – Pleadings – Whether cross claimant should be able to rely upon submissions outside the scope of its pleadings. Cases Cited: Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd (2009) 73 NSWLR 653; [2008] NSWCA 206. Sellars v Adelaide Petroleum NL (1994) 179 CLR 332; [1994] HCA 4. Seltsam Pty Ltd v McGuiness (2000) 49 NSWLR 262; [2000] NSWCA 29. Siegwerk Australia Pty Ltd v Nuplex Industries (Aust) Pty Ltd (2016) 334 ALR 443; [2016] FCA 158. Texts Cited: Austin, Ford and Ramsay, Company Directors Principles of Law & Corporate Governance (LexisNexis Butterworths, 2005). Category: Principal judgment Parties: V8 Supercars Holdings Pty Ltd (first plaintiff/first cross defendant) Australian Motor Racing Partners Pty Ltd (second plaintiff/second cross defendant) Sanpoint Pty Ltd in any capacity (including as trustee for the Fiore Family Trust and as trustee for the partners of Sanpoint) (second defendant/cross claimant) Representation: Counsel: PS Braham SC/M Izzo/T O'Brien (plaintiffs/cross defendants)