David v Ryan & Ors [2018] NSWSC 971

Supreme Court New South Wales

Medium Neutral Citation: David v Ryan & Ors [2018] NSWSC 971 Hearing dates: 26 June 2018 Date of orders: 28 June 2018 Decision date: 28 June 2018 Jurisdiction: Equity Before: Slattery J Decision: Declarations made that option is only exercisable after completion of the 2017 Dissolution Deed. Defendants ordered to pay the plaintiff's costs on the ordinary basis. Catchwords: CONTRACT – construction of the Deed of Dissolution of Partnership (the 2017 Dissolution Deed) – grazing partnership conducted on four properties – parties agree to dissolve the partnership and distribute partnership assets – parties own land on which partnership is conducted – some land is a partnership asset but other land is not – 2017 Dissolution Deed provides as part of the unwinding of the partnership for the registered proprietor of the non-partnership land (the plaintiff) to lease that non-partnership land to the other partners (the defendants) – 2017 Dissolution Deed also provides for the other partners to be granted an option to purchase the non-partnership land – whether the 2017 Dissolution Deed confers on the other partners an immediate right to exercise the option or whether certain conditions precedent must be fulfilled at the settlement of the Dissolution Deed before the option may be exercised by the other partners. Legislation Cited: Partnership Act 1892, s 33 Uniform Civil Procedure Rules 2005, rr 7.10(2)(a), 7.10(3) Cases Cited: Electricity Generation Corporation t/as Verve Energy v Woodside Energy Ltd (2014) 251 CLR 640 Mount Bruce Mining Pty Ltd v Wright Prospecting Pty Ltd (2015) 256 CLR 104 Walsh v Lonsdale (1882) 21 Ch D 9 Category: Principal judgment Parties: Plaintiff: Bernard David First Defendant: Anthony James Ryan Second Defendant: Sandra Tracey Ryan Third Defendant: Estate of the late James Edward Ryan Representation: Counsel: Plaintiff: M Ashhurst SC; D L Warren Defendants/Cross-Claimants: S Chapple, L Nurpuri