The decision in the Timbercorp Almonds apportionment case was handed down last week and is available here. The case arose out of the collapse of the Timbercorp Ltd managed investments schemes.  When the Liquidator sought to sell land on which almond orchards were planted as part of various managed investment schemes operated by the Timbercorp group, […]

One of the more difficult issues in the Primary RE case was the argument by Primary RE that the landlord failed to adequately prove the particulars of the breach in the notice. The text of the notices is included in another post on this blog here. It appears from the judgment that a significant amount […]

Section 146 of the PLA states that (emphasis added): (1)            A right of re-entry or forfeiture under any proviso or stipulation in a lease or otherwise arising by operation of law for a breach of any covenant or condition in the lease, including a breach amounting to repudiation, shall not be enforceable, by action or […]

The notices served on the former RE/tenant in the Primary RE case stated that (omitting formalities and title particulars): 2.            The lease contains the following terms (among others): (a)         the Tenant will at all times during the term of the Lease establish, tend and manage the Plantation Crop (as defined) in a proper and skilful […]

This post is the second in a series of posts discussing the judgment in Primary RE Ltd v Great Southern Property Holdings Ltd & Ors [2011] VSC 242. The main clause relied upon by the Receivers of the land owning companies in their s 146 notices was clause 6(b), which required the tenant to: … establish, […]

Given the number of issues raised in the Primary RE case and the size of the judgmnent (114 pages!), I thought it would be useful for those following this blog to have a separate post on each issue in the judgment. The first and, perhaps, one of the less complicated issues considered in the Primary […]

Further to my post of 15 April 2011, judgment in the case of Primary RE Ltd v Great Southern Property Holdings Ltd & Ors [2011] VSC 242 was handed down today. A copy of the judgment is available here for those who are interested in reading it now. I will post a summary of the findings shortly.

The managed investment scheme Blue Diamond Deposits Trust Number 1 derived its income from interest payments on loans made out of the unit holders’ investments. Unit holders were to receive quarterly income distributions and above market returns, and they had the right to redeem their units with 60 days notice. The Liquidator of the responsible […]

Justice Judd in the Victorian Supreme Court is currently reserved on an application by Primary RE Ltd seeking either to preserve leases that were granted to the responsible entity in some of the Great Southern managed investment schemes or for relief against forfeiture of those leases. Primary RE Ltd is a responsible entity that was […]

Hi all, welcome to the first post of my blog. I am a property and insolvency barrister at the Victorian Bar and I intend to use this site to provide comments on interesting developments in the law that I come across in practice. To start the ball rolling, I’ll tell you about a case I […]