Tam v Z5 Venture Capital Pty Limited [2017] NSWSC 1750

Supreme Court New South Wales

Medium Neutral Citation: Tam v Z5 Venture Capital Pty Limited [2017] NSWSC 1750 Hearing dates: 12 December 2017 Date of orders: 14 December 2017 Decision date: 14 December 2017 Jurisdiction: Common Law Before: Adamson J Decision: (1) Judgment for the second plaintiff in the sum of $1,454,411.

(2) Subject to a written application for a different order being made to my Associate together with any evidence to be relied on in support by 29 January 2018, order the defendant to pay the plaintiffs' costs of the proceedings, such costs not to include directions hearings or appearances prior to 23 October 2017.

(3) Grant liberty to any party to apply for a gross sum costs order pursuant to s 98(4) of the Civil Procedure Act 2005 (NSW), such application to be made in writing to my Associate, together with any material relied on in support, by 29 January 2018.

(4) Grant liberty to apply to re-list the matter before me on 3 days' notice. Catchwords: CONTRACTS – general contractual principles – construction and interpretation of contracts – whether later agreement superseded earlier agreements – whether entitlement to additional interest payments on principal sum if the first plaintiff's visa application was declined – HELD – earlier Proposal Letter constituted separate agreement which entitled second plaintiff to additional 5% interest

COSTS –when proceedings commenced prematurely before debt due and payable – whether costs ought be awarded for period before cause of action accrued when likely that they would have been incurred in any event – HELD – leave granted to apply for gross sum costs order to make allowance for costs unnecessarily incurred by premature commencement of proceedings