Meng v Wang (No 2) [2023] NSWSC 260

Meng v Wang (No 2) [2023] NSWSC 260

The debt under the share sale agreement became due 12 months after execution of the contract, i.e., October 2020, reflecting the parties' original understanding. The defendant failed to establish that a longer period was justified based on the events of 17 March 2020, the COVID-19 pandemic, or costs incurred in defending proceedings. The defendant's counter-claim failed for lack of credible evidence of actual loss.

Parties
Plaintiff: Zihui Meng; Defendant: Binbin Wang
Jurisdiction
Australia
Judgment Date
16 March 2023
Procedural Posture
Equity / Second Substantive Hearing; Judgment for Debt and Counter Claim Considered
Outcome
Judgment for plaintiff; counter-claim dismissed.
Legal Topics
Performance of Contracts, Time of Performance, Prejudgment Interest, Contractual Remedies, Counter Claims
Contract Law Equity Performance of Contracts Time of Performance Prejudgment Interest Contractual Remedies Counter Claims

Case Brief

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Parties

Zihui Meng

Plaintiff

Binbin Wang

Defendant

Procedural Posture

Equity / Second Substantive Hearing; Judgment for Debt and Counter Claim Considered

Legal Issues

  1. 1 When did the debt under the share sale agreement become due for the purpose of awarding prejudgment interest?
  2. 2 Is the defendant entitled to a counter-claim of $44,000 for alleged breach of cooperation obligations?

Ratio Decidendi

The debt under the share sale agreement became due 12 months after execution of the contract, i.e., October 2020, reflecting the parties' original understanding. The defendant failed to establish that a longer period was justified based on the events of 17 March 2020, the COVID-19 pandemic, or costs incurred in defending proceedings. The defendant's counter-claim failed for lack of credible evidence of actual loss.

Court Disposition

Judgment for plaintiff; counter-claim dismissed.

Orders

  • Adjourn proceedings to 24 March 2023 before Parker J.
  • Direct that the parties confer on the form of orders to be made to give effect to judgment and to deal with costs.