Shanmugathaas v Paramanirupan [2018] NSWSC 1232

Shanmugathaas v Paramanirupan [2018] NSWSC 1232

The partnership was for the development of the property followed by the sale of the units in accordance with the Agreement, not merely completion of construction or subdivision. Because the units had not been sold by June 2016 or October 2016, s 32(b) did not dissolve the partnership on either date. The Deed of Settlement and Release did not effect an immediate compromise or release; dissolution would have occurred only after the agreed process and payments, and the Deed was unenforceable. The partnership therefore continued until dissolved by the parties' agreement recorded in the orders of 10 July 2018. For the winding up, Unit 2 was to be valued as at 13 March 2017, and no additional...

Jurisdiction
Australia
Judgment Date
10 August 2018
Procedural Posture
Partnership Dispute Concerning Dissolution and Winding Up of a Property Development Venture / Principal Judgment Resolving Date of Dissolution and Valuation Date After Consent Orders Appointing Receivers
Outcome
Partnership declared dissolved by agreement on 10 July 2018; valuation date for Unit 2 fixed at 13 March 2017; no additional earlier valuation ordered.
Legal Topics
['termination of Partnership' 'single Adventure or Undertaking' 'partnership Winding Up' 'valuation of Partnership Property' 'deed of Settlement and Release']
['partnerships and Joint Ventures' 'equity' 'property Development'] ['termination of Partnership' 'single Adventure or Undertaking' 'partnership Winding Up' 'valuation of Partnership Property' 'deed of Settlement and Release']

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Procedural Posture

Partnership Dispute Concerning Dissolution and Winding Up of a Property Development Venture / Principal Judgment Resolving Date of Dissolution and Valuation Date After Consent Orders Appointing Receivers

Legal Issues

  1. 1 ['Whether the partnership was dissolved before 10 July 2018, and if so on what date.' 'Whether the partnership was dissolved under Partnership Act 1892 (NSW), s 32(b) when activity ceased, when proceedings commenced, or when the Deed of Settlement and Release was entered.' 'What date should be used for valuation of Unit 2 for the winding up.' 'Whether an additional valuation of the property should be ordered as at 6 October 2013 or 18 October 2014.']

Ratio Decidendi

The partnership was for the development of the property followed by the sale of the units in accordance with the Agreement, not merely completion of construction or subdivision. Because the units had not been sold by June 2016 or October 2016, s 32(b) did not dissolve the partnership on either date. The Deed of Settlement and Release did not effect an immediate compromise or release; dissolution would have occurred only after the agreed process and payments, and the Deed was unenforceable. The partnership therefore continued until dissolved by the parties' agreement recorded in the orders of 10 July 2018. For the winding up, Unit 2 was to be valued as at 13 March 2017, and no additional...

Court Disposition

Partnership declared dissolved by agreement on 10 July 2018; valuation date for Unit 2 fixed at 13 March 2017; no additional earlier valuation ordered.

Orders

  • ['Declare that the partnership between the parties was dissolved by agreement of the parties on 10 July 2018.' 'Direct that, for the purposes of the valuation to be conducted in accordance with paragraph 5(c) of the orders made on 10 July 2018, the date of valuation shall be 13 March 2017.']