CPPIB Credit Investments v Ren [2018] NSWSC 1568

Supreme Court New South Wales

Medium Neutral Citation: CPPIB Credit Investments v Ren [2018] NSWSC 1568 Hearing dates: 26/09/2018 Date of orders: 18 October 2018 Decision date: 18 October 2018 Jurisdiction: Equity - Commercial List Before: McDougall J Decision: Vendor validly forfeited purchaser's deposit. Purchaser not entitled to relief against forfeiture. Catchwords: REAL PROPERTY – contract for the sale of land – whether vendor validly forfeited purchaser's deposit – whether purchaser validly terminated contract – whether vendor complied with warranties regarding entitlement to legal and beneficial title to property – correct construction of special conditions denies right of termination – whether vendor terminated the contract for convenience – inability to infer termination by mere routine communication – whether purchaser entitled to relief against forfeiture of deposit – forfeiture of deposit was due to the purchaser's own actions of non-compliance – no entitlement to relief. Legislation Cited: Conveyancing Act 1919 (NSW) Family Law Act 1975 (Cth) Cases Cited: Bell v Scott (1922) 30 CLR 387 Dasreef Developments Pty Ltd v Velkovski [2017] NSWSC 1698 Forrer v Nash (1865) 35 Beavan 167; 55 ER 858 Havyn Pty Ltd v Webster (2005) 12 BPR 22,837 Koompahtoo Local Aboriginal Land Council v Sanpine Pty Ltd (2007) 233 CLR 115 Re Francis; ex parte Official Trustee in Bankruptcy (1988) 19 FCR 149 Senior v Anderson (2011) 250 FLR 444 Valoutin Pty Ltd v Furst (1998) 154 ALR 119 Walker v Public Trustee (1938) 38 SR (NSW) 662 Category: Principal judgment Parties: CPPIB Credit Investments Inc. (Plaintiff) Jerry Ren (Defendant) Xin He (Purchaser) Xia Kong (Vendor) Bruce Gleeson, in his capacity as the Trustee of the bankrupt estate of Mr Ren (Trustee) Ronayne Owens Lawyers (Stakeholder) Representation: Counsel: R de Meyrick / D Currie (Purchaser) N J Beaumont SC / N Condylis (Vendor) G E Ng (Trustee)