Dasreef Developments Pty Ltd v Josiv Velkovski [2017] NSWSC 1698

Supreme Court New South Wales

Medium Neutral Citation: Dasreef Developments Pty Ltd v Josiv Velkovski [2017] NSWSC 1698 Hearing dates: 15 November 2017 Decision date: 08 December 2017 Jurisdiction: Equity Before: Emmett AJA Decision: 1. Declare that the deposit paid by the first defendant to the second defendant, as stakeholder, has been forfeited to the plaintiffs. 2. Summons be otherwise dismissed. 3. Cross-Claim be dismissed. 4. First defendant to pay the plaintiffs' costs of the summons and cross-claim on the ordinary basis. Catchwords: CONVEYANCING – Breach of contract for sale and remedies – Relief against forfeiture of deposit Legislation Cited: Conveyancing Act 1919 (NSW), s 55(2A) Environmental Planning and Assessment Act 1979 (NSW), s 109C Real Property Act 1900 (NSW) Cases Cited: Brien v Dwyer (1978) 141 CLR 378; [1978] HCA 50 Havyn Pty Ltd v Webster [2005] NSWCA 182 Howe v Smith (1884) 27 Ch D 89 Lucas & Tait (Investments) Pty Ltd v Victoria Securities Limited (1973) 2 NSWLR 268 Wilson v Kingsgate Mining Industries Pty Ltd [1973] 2 NSWLR 713 Texts Cited: Gaius, Institutes III.139 Justinian Code IV.21.17 Justinian Institutes III.23.pr RJ Pothier, Treatise on the Contract of Sale Pt 6, Ch 1, Art 3: translation by LS Cushing, Charles C Little and James Brown, 1839 Category: Principal judgment Parties: Dasreef Developments Pty Ltd (First Plaintiff/First Cross Defendant) Loftus Developments Pty Ltd (Second Plaintiff/Second Cross Defendant) Josiv Velkovski (First Defendant/First Cross Claimant) Strathfield Partners Pty Ltd (Second Defendant) Representation: Counsel: T Phan (Plaintiffs/Cross Defendants) R W Tregenza (First Defendant/First Cross Claimant)