In the matter of Hoju Jobs Pty Ltd (No 2) [2021] NSWSC 407

In the matter of Hoju Jobs Pty Ltd (No 2) [2021] NSWSC 407

The Court ordered specific performance of the contract between the plaintiff and third defendant, including transfer of shares and payment of $300,000, with interest on that sum under s 100 of the Civil Procedure Act 2005 (NSW), as the statutory provisions permit interest on an order for specific performance involving recovery of money. Costs were ordered so that each of the plaintiff, first defendant, and third defendant bear their own costs, given the plaintiff unreasonably failed to accept the third defendant's pre-litigation offer and only succeeded against one defendant.

Parties
Plaintiff: Jay Koo Kim; First Defendant: Hoju Jobs Pty Ltd CAN 612 771 945; Second Defendant: Yongseoki Choi; Third Defendant: Jin Seoung Goo
Jurisdiction
Australia
Judgment Date
21 April 2021
Procedural Posture
Corporations/equity Proceedings / Final Judgment and Costs/orders Determination
Outcome
Specific performance ordered; cost orders made so that plaintiff, first and third defendants pay their own costs; third defendant to pay interest on the sum owing.
Legal Topics
Costs, Specific Performance, Interest, Offers of Compromise
Equity Corporations Law Costs Specific Performance Interest Offers of Compromise

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Parties

Jay Koo Kim

Plaintiff

Hoju Jobs Pty Ltd CAN 612 771 945

First Defendant

Yongseoki Choi

Second Defendant

Jin Seoung Goo

Third Defendant

Procedural Posture

Corporations/equity Proceedings / Final Judgment and Costs/orders Determination

Legal Issues

  1. 1 Whether to order specific performance of a contract between the plaintiff and third defendant
  2. 2 Whether interest should be awarded on the sum payable under the contract
  3. 3 How costs should be allocated among the parties

Ratio Decidendi

The Court ordered specific performance of the contract between the plaintiff and third defendant, including transfer of shares and payment of $300,000, with interest on that sum under s 100 of the Civil Procedure Act 2005 (NSW), as the statutory provisions permit interest on an order for specific performance involving recovery of money. Costs were ordered so that each of the plaintiff, first defendant, and third defendant bear their own costs, given the plaintiff unreasonably failed to accept the third defendant's pre-litigation offer and only succeeded against one defendant.

Court Disposition

Specific performance ordered; cost orders made so that plaintiff, first and third defendants pay their own costs; third defendant to pay interest on the sum owing.

Orders

  • Order the contract between the plaintiff and third defendant be specifically performed in accordance with the judgment.
  • Third defendant to provide necessary instruments for share transfer to plaintiff and/or nominee within 14 days.