Tagget v HP Industrial Pty Ltd [2014] NSWSC 901

Tagget v HP Industrial Pty Ltd [2014] NSWSC 901

The Plaintiff is entitled to judgment for damages arising from the First Defendant’s failure to complete the contract for sale of land, calculated as the sum of the completion payment and deferred payments, less the amount received on resale, plus interest, resulting in a total judgment of $9,137,646.

Parties
First Plaintiff: Ian Graeme Tagget; Second Plaintiff: Rhonda Isabel Tagget; First Defendant: HP Industrial Pty Ltd; Second Defendant: HP 010 754 953 Pty Ltd (under external administration)
Jurisdiction
Australia
Judgment Date
03 July 2014
Procedural Posture
Breach of Contract, Assessment of Damages / Judgment After Assessment of Damages (default Judgment Previously Entered)
Outcome
Judgment for the Plaintiff against the First Defendant in the sum of $9,137,646; costs awarded to the Plaintiff.
Legal Topics
Breach of Contract, Sale of Land, Failure to Complete, Assessment of Damages, Contractual Damages
Contract Breach of Contract Sale of Land Failure to Complete Assessment of Damages Contractual Damages

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Parties

Ian Graeme Tagget

First Plaintiff

Rhonda Isabel Tagget

Second Plaintiff

HP Industrial Pty Ltd

First Defendant

HP 010 754 953 Pty Ltd (under external administration)

Second Defendant

Procedural Posture

Breach of Contract, Assessment of Damages / Judgment After Assessment of Damages (default Judgment Previously Entered)

Legal Issues

  1. 1 Whether the First Defendant breached the contract for sale of land by failing to complete
  2. 2 How damages should be calculated, including deferred payments and completion payment, in the light of resale
  3. 3 Whether the Plaintiff is entitled to interest on the amounts owing

Ratio Decidendi

The Plaintiff is entitled to judgment for damages arising from the First Defendant’s failure to complete the contract for sale of land, calculated as the sum of the completion payment and deferred payments, less the amount received on resale, plus interest, resulting in a total judgment of $9,137,646.

Court Disposition

Judgment for the Plaintiff against the First Defendant in the sum of $9,137,646; costs awarded to the Plaintiff.

Orders

  • Judgment for the Plaintiff against the First Defendant in the sum of $9,137,646.
  • The First Defendant pay the Plaintiff's costs of the proceedings.