28 Apr 2010
PROPERTY VENTURES INVESTMENTS LIMITED V REGALWOOD HOLDINGS LIMITED SC 85/2008
- Citation
- PROPERTY VENTURES INVESTMENTS LIMITED V REGALWOOD HOLDINGS LIMITED SC 85/2008
- Court
- Supreme Court
Summary judgment was wrongly granted because on the assumed facts there was a serious dispute of material fact and Regalwood, being in an alleged material breach, had not demonstrated it was 'ready, able and willing' to settle; clause 6.5 does not compel settlement in full where the vendor's breach is material (Flight v Booth principle applies) and the purchaser could assert equitable set-off or seek specific performance with abatement; the matter must proceed as an ordinary action and was remitted to the High Court.