Saloma Pty Ltd v Big Country Developments Pty Ltd [2006] NSWSC 652

Saloma Pty Ltd v Big Country Developments Pty Ltd [2006] NSWSC 652

Where parties have agreed on a procedure for valuing their interest and that procedure breaks down, equity intervenes to appoint a new valuer to effectuate the parties’ bargain rather than allowing either claim for conversion or for failure to cooperate to succeed.

Parties
Plaintiff: Saloma Pty Ltd; Defendant: Big Country Developments Pty Ltd
Jurisdiction
Australia
Judgment Date
12 May 2006
Procedural Posture
Civil / Ex Tempore Judgment Following Hearing of Dispute and Cross Claim
Outcome
Determination of sale price of plant and articles referred to Mr Gower. Orders made in accordance with short minutes, excluding item 5. Liberty to apply on three days’ notice granted.
Legal Topics
Valuation Procedure, Lease Dispute, Appointment of Valuer, Conversion, Equitable Compensation
Equity Valuation Procedure Lease Dispute Appointment of Valuer Conversion Equitable Compensation

Case Brief

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Parties

Saloma Pty Ltd

Plaintiff

Big Country Developments Pty Ltd

Defendant

Procedural Posture

Civil / Ex Tempore Judgment Following Hearing of Dispute and Cross Claim

Legal Issues

  1. 1 What is to occur when a contractually agreed valuation mechanism for plant and equipment breaks down?
  2. 2 Whether the defendant has wrongly converted the plaintiff’s plant and equipment?
  3. 3 Whether the plaintiff failed to cooperate in the machinery of the lease as an implied term?

Ratio Decidendi

Where parties have agreed on a procedure for valuing their interest and that procedure breaks down, equity intervenes to appoint a new valuer to effectuate the parties’ bargain rather than allowing either claim for conversion or for failure to cooperate to succeed.

Court Disposition

Determination of sale price of plant and articles referred to Mr Gower. Orders made in accordance with short minutes, excluding item 5. Liberty to apply on three days’ notice granted.

Orders

  • The determination of the sale price of plant and articles is referred to Mr Gower.
  • Orders made in accordance with the short minutes, with number 5 deleted.