Hairun Chen & 49 Ors v Statewide Developments Pty Ltd; Evan Nhut Tho La & 36 Ors v Statewide Developments Pty Ltd; Hoe Chin Ng & 6 Ors v Statewide Developments Pty Ltd [2007] NSWSC 518

Hairun Chen & 49 Ors v Statewide Developments Pty Ltd; Evan Nhut Tho La & 36 Ors v Statewide Developments Pty Ltd; Hoe Chin Ng & 6 Ors v Statewide Developments Pty Ltd [2007] NSWSC 518

Given serious questions to be tried regarding the validity of rescissions and entitlement to deposits, balance of convenience favours stakeholder (APG) holding deposit monies (including those paid out and proceeds of bonds/guarantees called upon) pending final determination; defendant ordered to repay cash deposits received, and bond proceeds to be held by stakeholder under undertakings, with injunctions discharged save for restraint on defendant regarding cash deposits held by APG.

Jurisdiction
Australia
Judgment Date
30 April 2007
Procedural Posture
Civil / Interlocutory Application for Injunction
Outcome
Orders granted as per amended short minutes; interlocutory relief adjusted; costs in the proceedings.
Legal Topics
['interlocutory Mandatory Injunctions' 'stakeholder Duties' 'rescission of Contract' 'deposit Bonds' 'bank Guarantees' 'balance of Convenience']
['equity'] ['interlocutory Mandatory Injunctions' 'stakeholder Duties' 'rescission of Contract' 'deposit Bonds' 'bank Guarantees' 'balance of Convenience']

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Procedural Posture

Civil / Interlocutory Application for Injunction

Legal Issues

  1. 1 ['Whether the purchasers validly rescinded contracts for sale of land and are entitled to return of deposits or cancellation of bonds' 'Whether deposit bonds, guarantees and cash deposits should be restrained, called upon, or repaid pending final determination' 'Whether covenants and restrictions imposed on title or differences in apartment areas give rise to substantial detriment justifying rescission']

Ratio Decidendi

Given serious questions to be tried regarding the validity of rescissions and entitlement to deposits, balance of convenience favours stakeholder (APG) holding deposit monies (including those paid out and proceeds of bonds/guarantees called upon) pending final determination; defendant ordered to repay cash deposits received, and bond proceeds to be held by stakeholder under undertakings, with injunctions discharged save for restraint on defendant regarding cash deposits held by APG.

Court Disposition

Orders granted as per amended short minutes; interlocutory relief adjusted; costs in the proceedings.

Orders

  • ['Orders made in accordance with amended short minutes initialled and placed with papers.' 'Orders may be entered forthwith.' 'Defendant to repay cash deposits paid by APG to defendant forthwith to APG to be held pending final determination.' 'Proceeds of deposit bonds or guarantees to be paid to APG as stakeholder...