Thomson v CW2 Pty Ltd (No 2) [2024] NSWSC 347

Thomson v CW2 Pty Ltd (No 2) [2024] NSWSC 347

Damages are to be assessed at the date of termination of the contract, reflecting loss of bargain, calculated as contract price less resale price, plus interest up to termination, plus substantiated post-termination resale costs, and judgment rounded to nearest $100,000 due to imprecision in value assessment.

Jurisdiction
Australia
Judgment Date
28 March 2024
Procedural Posture
Damages Assessment After Breach of Contract for Sale of Land / Assessment of Damages; Consequential Orders
Outcome
Judgment for the plaintiffs against the defendants in the sum of $5.2 million; defendants to pay plaintiffs’ costs of assessment of damages.
Legal Topics
['assessment of Damages' 'termination of Contract' 'sale of Land' 'interest on Damages' 'costs of Resale']
['equity' 'real Property'] ['assessment of Damages' 'termination of Contract' 'sale of Land' 'interest on Damages' 'costs of Resale']

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Procedural Posture

Damages Assessment After Breach of Contract for Sale of Land / Assessment of Damages; Consequential Orders

Legal Issues

  1. 1 ["How should damages be assessed following a purchaser's failure to complete a contract for the sale of land?" 'Are costs incurred after termination of the contract recoverable as damages?' 'How should pre-judgment interest be calculated in these circumstances?']

Ratio Decidendi

Damages are to be assessed at the date of termination of the contract, reflecting loss of bargain, calculated as contract price less resale price, plus interest up to termination, plus substantiated post-termination resale costs, and judgment rounded to nearest $100,000 due to imprecision in value assessment.

Court Disposition

Judgment for the plaintiffs against the defendants in the sum of $5.2 million; defendants to pay plaintiffs’ costs of assessment of damages.

Orders

  • ['Judgment for the plaintiffs against the defendants in the sum of $5.2 million.' "Defendants to pay the plaintiffs' costs of the assessment of damages."]