Citystar International Pty Ltd v Elite 100 Australia Pty Ltd [2019] NSWDC 454

District Court New South Wales

Medium Neutral Citation: Citystar International Pty Ltd v Elite 100 Australia Pty Ltd [2019] NSWDC 454 Hearing dates: 28 – 30 August 2019 Date of orders: 02 September 2019 Decision date: 02 September 2019 Jurisdiction: Civil Before: Abadee DCJ Decision: See paragraph 169 Catchwords: CONTRACTS – property developer's share purchase from defendant – termination by consent – whether property developer entered into a series of verbal agreements with a 'strategic advisor' – whether any damages for breach of such verbal agreement(s) may be set-off against debt owing after termination of share purchase agreement.

TRADE PRACTICES – misleading or deceptive conduct – whether contractual promises constitute future representations – whether representations actionable in statute if promises not fulfilled. Legislation Cited: Australian Consumer Law Civil Procedure Act 2005 (NSW) Corporations Act 2001 (Cth) Cases Cited: Concrete Constructions Group v Litevale & Ors [2002] NSWSC 670 Crown Melbourne v Cosmopolitan Hotel (Vic) Pty Ltd (2016) 260 CLR 1 Demagogue v Ramensky (1992) 39 FCR 31 Futuretronics International Pty Ltd v Gadzhis [1992] 2 VR 217 Houghton v Arms (2006) 225 CLR 553 McGrath v Australian Naturalcare Products Pty Ltd (2008) 165 FCR 230 Miller & Associates Insurance Broking Pty Ltd v BMW Australia Finance Ltd (2010) 241 CLR 357 Miller & Associates v BMW Australia Finance Limited RCR Energy Pty Ltd v WTE Co-Generation Pty Ltd [2017] VSCA 50 Secure Parking Pty Ltd v Woollhara Municipal Council [2016] NSWCA 15 Shahid v Australasian College of Dermatologists [2007] FCA 693 Thorby v Goldberg (1964) 112 CLR 597 at 607 Texts Cited: Heydon on Contract (2019) Category: Principal judgment Parties: Citystar International Pty Ltd (First Plaintiff) Mr Liu (Second Plaintiff) Elite 100 Australia Pty Ltd (First Defendant) Mr Lui (Second Defendant) Ms Bai (Third Defendant) Representation: Counsel: Mr W Robertson (First and Second Plaintiff) Mr D Delany (First to Third Defendants)