Bacchus Resources Pty Ltd v Talisman Mining Limited [2019] NSWSC 1044

Supreme Court New South Wales

Medium Neutral Citation: Bacchus Resources Pty Ltd v Talisman Mining Limited [2019] NSWSC 1044 Hearing dates: 8 August 2019 Decision date: 16 August 2019 Jurisdiction: Equity - Commercial List Before: Hammerschlag J Decision: The Court declares that, on 27 September 2018, upon payment by the plaintiff of the sum of $6,250 to the first defendant they entered into a binding joint venture agreement. Defendants to pay the plaintiff's costs. Catchwords: CONTRACT – construction – whether the parties entered into a binding joint venture agreement or bound themselves only to negotiate in good faith a further formal joint venture instrument – whether if they entered into a binding joint venture agreement the first defendant brought it to an end – whether declaration that a binding joint venture agreement entered into is of utility; HELD: the parties entered into a binding joint venture agreement – the first defendant did not bring it to an end – appropriate to order declaratory relief Legislation Cited: Civil Procedure Act 2005 (NSW) Cases Cited: Masters v Cameron (1954) 91 CLR 353 G R Securities Pty Limited v Baulkham Hills Private Hospital Pty Limited (1986) 40 NSWLR 631 Helmos Enterprises Pty Limited v Jaylor Pty Limited (2005) 12 BPR 23,021 Category: Principal judgment Parties: Bacchus Resources Pty Ltd - Plaintiff Talisman Mining Limited - First Defendant Haverford Holdings Pty Ltd - Second Defendant Representation: Counsel: J Hutton - Plaintiff J Giles SC with C A Hamilton-Jewell - First and Second Defendants