JB (Northbridge) Pty Ltd v St George Bank Ltd [2010] NSWCA 249
Occurrence of an insolvency event as defined and deemed default in the lease does not amount to breach of covenants or agreements required to preclude option renewal; breach of assignment provision must be assignment at law and no prescribed notice was served to preclude entitlement; exercise of option by receiver was valid and for proper purpose.
- Jurisdiction
- Australia
- Judgment Date
- 01 October 2010
- Procedural Posture
- Appeal / Judgment
- Outcome
- Appeal dismissed with costs
- Legal Topics
- ['tenancy' 'lease Renewal' 'assignment of Lease' 'options to Renew' 'insolvency Events']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Appeal / Judgment
Legal Issues
- 1 ['Whether lessee was disentitled from exercising option to renew on account of insolvency event' 'Whether purported assignment breached covenant not to assign or procure assignment or transfer' 'Whether exercise of option by receiver was valid']
Ratio Decidendi
Occurrence of an insolvency event as defined and deemed default in the lease does not amount to breach of covenants or agreements required to preclude option renewal; breach of assignment provision must be assignment at law and no prescribed notice was served to preclude entitlement; exercise of option by receiver was valid and for proper purpose.
Court Disposition
Appeal dismissed with costs
Orders
- ['Appeal dismissed with costs']
Full Case Text
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