Cappe v Tsung [2018] NSWCA 86

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Cappe v Tsung [2018] NSWCA 86 Hearing dates: 22 February 2018 Date of orders: 26 April 2018 Decision date: 26 April 2018 Before: Basten JA at [1]; Meagher JA at [2]; Emmett AJA at [31] Decision: Appeal dismissed with costs Catchwords: PARTNERSHIP – special majority of partners accepted offer by corporation to acquire the partnership business – whether special majority could vary inter se entitlement of partners to share in surplus from proceeds of sale – whether cash amounts and shares issued were wholly the proceeds of partnership property Legislation Cited: Partnership Act 1892 (NSW), ss 4, 5, 6, 19, 20, 21, 24, 28, 29, 32, 33, 34, 35, 38, 39, 44; Pt 2, Divs 2, 3, 4 Corporations Act 2001 (Cth), s 127 Cases Cited: Blisset v Daniel (1853) 10 Hare 493; 68 ER 1022 Canny Gabriel Castle Jackson Advertising Pty Ltd v Volume Sales (Finance) Pty Ltd (1974) 131 CLR 321 Carter Bros v Renouf (1962) 111 CLR 140 Commissioner of Stamp Duties (Qld) v Livingston (1964) 112 CLR 12 Commissioner of State Taxation (SA) v Cyril Henschke Pty Ltd (2010) 242 CLR 508 Construction Engineering (Aust) Pty Ltd v Hexyl Pty Ltd (1985) 155 CLR 541 Federal Commissioner of Taxation v Murry (1998) 193 CLR 605 Gambotto v WCP Ltd (1995) 182 CLR 432 Harvey v Harvey (1970) 120 CLR 529 Inland Revenue Commissioners v Gray [1994] STC 360 Rowella Pty Ltd v Abfam Nominees Pty Ltd (1989) 168 CLR 301 Talbot v McDonald (1925) 25 SR (NSW) 267 Tobin v Broadbent (1947) 75 CLR 378 Tsung v Cappe [2017] NSWSC 1053 Category: Principal judgment Parties: Ian Philip Cappe (First Appellant) Warren Shane Lun (Second Appellant) Craig Matthew Dyer (Third Appellant) Andrew Wallace Hooper (Fourth Appellant) Rohit Singh (Fifth Appellant) Joanna Sommerfeld (Sixth Appellant) Lincoln Geoffrey Gillam (Seventh Appellant) Willie Pei Chiao Tsung (Respondent) Representation: Counsel: J Giles SC with P Silver (Appellants) R Newlinds SC with D Barnett (Respondent)