Cypjayne Pty Ltd v Sverre Rodskog [2009] NSWSC 301

Cypjayne Pty Ltd v Sverre Rodskog [2009] NSWSC 301

Mr Rodskog is not obliged to permit the Partnership Assets to be used as security for advances to Bonvale for purposes associated with Durham Green, because Bonvale is neither a Partner nor an Associated Person as defined in the Partnership Deed and Duties Act; accordingly, applications for declaration and mandatory order are dismissed.

Parties
First Plaintiff/cross Defendant: Cypjayne Pty Ltd; Third Plaintiff/cross Defendant: B&L Trading Pty Ltd; Fourth Plaintiff/cross Defendant: D&C Properties Pty Ltd; Fifth Plaintiff/cross Defendant: Maurice Tulich; Sixth Plaintiff/cross Defendant: Curtis Jack Mann; Seventh Plaintiff/cross Defendant: David Brodie; First Defendant/cross Claimant: Sverre Rodskog; Second Defendant: Paul Edwin Cayzer
Jurisdiction
Australia
Judgment Date
24 April 2009
Procedural Posture
Separate Question / Final Judgment
Outcome
Proceedings dismissed
Legal Topics
Declarations, Specific Performance, Construction of Instruments, Discretionary Trusts, Words and Phrases Beneficiary, Adequacy of Damages, Unclean Hands, Hardship, Security Interests
Equity Trusts Partnerships Family Law Declarations Specific Performance Construction of Instruments Discretionary Trusts +5 more

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Parties

Cypjayne Pty Ltd

First Plaintiff/cross Defendant

B&L Trading Pty Ltd

Third Plaintiff/cross Defendant

D&C Properties Pty Ltd

Fourth Plaintiff/cross Defendant

Maurice Tulich

Fifth Plaintiff/cross Defendant

Curtis Jack Mann

Sixth Plaintiff/cross Defendant

David Brodie

Seventh Plaintiff/cross Defendant

Sverre Rodskog

First Defendant/cross Claimant

Paul Edwin Cayzer

Second Defendant

Procedural Posture

Separate Question / Final Judgment

Legal Issues

  1. 1 Whether Mr Rodskog was obliged to permit Partnership Assets to be used as security for advances to Bonvale for purposes associated with Durham Green as described in the 4 December Adelaide Bank letter of offer
  2. 2 Construction of clause 17 of the Partnership Deed
  3. 3 Whether Bonvale is a Partner or an Associated Person for the purposes of the Partnership Deed and Duties Act definition

Ratio Decidendi

Mr Rodskog is not obliged to permit the Partnership Assets to be used as security for advances to Bonvale for purposes associated with Durham Green, because Bonvale is neither a Partner nor an Associated Person as defined in the Partnership Deed and Duties Act; accordingly, applications for declaration and mandatory order are dismissed.

Court Disposition

Proceedings dismissed

Orders

  • Proceedings for declaration and mandatory order dismissed.