Russo & Ors v Russo & Ors (No. 3) [2015] NSWSC 1849

Russo & Ors v Russo & Ors (No. 3) [2015] NSWSC 1849

Because the accounts filed by Mr John Russo did not provide a reliable or conventional accounting of the profits, expenditure, distributions and financing costs for the three joint venture projects, and because he acknowledged having further primary accounting records, the Court ordered production of those records so the plaintiffs could construct accounts and the matter could proceed to finality.

Jurisdiction
Australia
Judgment Date
03 December 2015
Procedural Posture
Equity Proceedings Concerning Production of Accounts for Joint Ventures / Enforcement of Prior Orders; Consequential Orders
Outcome
By consent, the third defendant was ordered to produce primary accounting records and related document lists, and the proceedings were adjourned for further directions.
Legal Topics
['equitable Relief' 'production of Accounts' 'account in Common Form' 'joint Ventures' 'enforcement of Court Orders']
['equity'] ['equitable Relief' 'production of Accounts' 'account in Common Form' 'joint Ventures' 'enforcement of Court Orders']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Equity Proceedings Concerning Production of Accounts for Joint Ventures / Enforcement of Prior Orders; Consequential Orders

Legal Issues

  1. 1 ['Whether the material filed by the third defendant amounted to a conventional accounting for the three relevant development projects.' "Whether, following the third defendant's failure to provide adequate accounts and primary documents, the plaintiffs should be permitted to prepare accounts themselves using available material." 'Whether the third defendant should be ordered to produce primary accounting records for the projects.']

Ratio Decidendi

Because the accounts filed by Mr John Russo did not provide a reliable or conventional accounting of the profits, expenditure, distributions and financing costs for the three joint venture projects, and because he acknowledged having further primary accounting records, the Court ordered production of those records so the plaintiffs could construct accounts and the matter could proceed to finality.

Court Disposition

By consent, the third defendant was ordered to produce primary accounting records and related document lists, and the proceedings were adjourned for further directions.

Orders

  • ['By 9.30am on 16 December 2015 the third defendant is to produce to the Court all primary accounting records in his care, custody, or control, including but not limited to cheques, cheque butts, bank statements, credit card statements, invoices, receipts, memoranda, transfer documents, contracts of any type, credit...