Greenwood Futures v DSD Builders (No 2) [2018] NSWSC 1471

Supreme Court New South Wales

Medium Neutral Citation: Greenwood Futures v DSD Builders (No 2) [2018] NSWSC 1471 Hearing dates: 28/09/2018 Date of orders: 28 September 2018 Decision date: 28 September 2018 Jurisdiction: Equity - Commercial List Before: McDougall J Decision: Extend until further order the stay made on 13 September 2018. Catchwords: BUILDING AND CONSTRUCTION – Building and Construction Industry Security of Payment Act 1999 (NSW) – respondent (contractor) has benefit of determination as against applicant (principal) to the sum of $220,000 – application by principal to continue a stay of orders preventing that sum being paid out of court to the contractor – basis for application is danger that a successful counterclaim by the principal will remain unpaid – necessary to point to more than mere risk of insolvency to justify stay – where contractor has engaged in corporate activities which justify suspicion – where contractor has placed unsatisfactory evidence of its financial position before the court – continuation of stay warranted. Legislation Cited: Building and Construction Industry Security of Payment Act 1999 (NSW) Cases Cited: Goodwin Street Developments Pty Ltd v DSD Builders Pty Ltd [2018] NSWSC 1229 Greenwood Futures v DSD Builders [2018] NSWSC 1407 RJ Neller Building Pty Ltd v Ainsworth [2009] 1 Qd R 390 Shade Systems Pty Ltd v Probuild Constructions (Aust) Pty Ltd [2018] NSWCA 33 Category: Procedural and other rulings Parties: Greenwood Futures Pty Ltd (Plaintiff) DSD Builders Pty Ltd (First Defendant) Peter Sarlos (Second Defendant) Representation: Counsel: F P Hicks SC (Plaintiff) B D Kaplan (First Defendant) Solicitors: Keystone Lawyers (Plaintiff) CCS Legal (First Defendant) File Number(s): 2018/200878