LMI v Baulderstone (No 2) [2002] NSWSC 72

LMI v Baulderstone (No 2) [2002] NSWSC 72

Plaintiffs established entitlement to reimbursement of expenses but not breach for failure to appoint; reimbursement calculated in USD plus interest; damages for failure to appoint assessed on hypothetical basis with discount rate of 18% and 3% CPI if required; costs apportioned—plaintiffs recover 20% of costs, pay 80% of defendants' costs, and pay third defendant's costs entirely; no indemnity costs awarded despite rejected offer of compromise, party-party costs apply.

Parties
First Plaintiff: LMI Australasia Pty Limited; Second Plaintiff: LMI/HHI Limited; First Defendant: Baulderstone Hornibrook Pty Limited; Second Defendant: Docklands Stadium Consortium Pty Limited; Third Defendant: Baulderstone Hornibrook International Pty Limited
Jurisdiction
Australia
Judgment Date
22 February 2002
Procedural Posture
Commercial List Proceeding in Equity Division / Post Trial Judgment and Orders
Outcome
Judgment for plaintiffs against first and second defendants for reimbursement; costs apportioned; judgment for third defendant as to costs.
Legal Topics
Damages for Breach of Contract, Assessment of Damages, Costs Apportionment, Interest on Damages, Offer of Compromise, Indemnity Versus Party Party Costs
Contract Law Civil Procedure Damages for Breach of Contract Assessment of Damages Costs Apportionment Interest on Damages Offer of Compromise Indemnity Versus Party Party Costs

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Parties

LMI Australasia Pty Limited

First Plaintiff

LMI/HHI Limited

Second Plaintiff

Baulderstone Hornibrook Pty Limited

First Defendant

Docklands Stadium Consortium Pty Limited

Second Defendant

Baulderstone Hornibrook International Pty Limited

Third Defendant

Procedural Posture

Commercial List Proceeding in Equity Division / Post Trial Judgment and Orders

Legal Issues

  1. 1 Assessment of damages for breach of contract (failure to appoint as manager)
  2. 2 Entitlement and calculation of reimbursement of expenses
  3. 3 Appropriate date for damages assessment

Ratio Decidendi

Plaintiffs established entitlement to reimbursement of expenses but not breach for failure to appoint; reimbursement calculated in USD plus interest; damages for failure to appoint assessed on hypothetical basis with discount rate of 18% and 3% CPI if required; costs apportioned—plaintiffs recover 20% of costs, pay 80% of defendants' costs, and pay third defendant's costs entirely; no indemnity costs awarded despite rejected offer of compromise, party-party costs apply.

Court Disposition

Judgment for plaintiffs against first and second defendants for reimbursement; costs apportioned; judgment for third defendant as to costs.

Orders

  • Judgment for plaintiffs against first and second defendants in sum of $81,902.28 USD plus interest as per Supreme Court Rules from 20 December 1997 to date of judgment.
  • First and second defendants to pay 20% of plaintiffs' costs, assessed on party and party basis.