CBD
Gold Coast developer Sunland was back in court again on Monday, this time in a move to introduce new evidence in a bid to claim the $14 million Australians Matt Joyce and Angus Reed have been ordered to pay by a Dubai criminal court.
It is the latest twist in the more than four-year saga in which Joyce and Reed (in absentia) were recently sentenced to 10 years in a Dubai jail. Sunland has already had three civil judgments made against it in the Victorian Supreme Court, all of which are now before the Court of Appeal.
But in an attempt to reopen the anti-suit injunction - which blocked an attempt to pursue a civil case in Dubai - Sunland has made the novel argument that permission has already been granted courtesy of the foreign criminal judgment.
David O'Callaghan, counsel for the listed developer, argued the Dubai court had already ordered the $14 million be "returned" and the Court of Appeal should not restrain his client from enforcing that "valuable right".
"The only step required to be taken is for Sunland to seek the execution of that judgment," he said.
But the respective counsel for Joyce and Reed weren't having a bar of it.Jack Rush, QC, for Reed and his company Prudentia, first took issue with the quality of the translation of the Dubai court's judgment. Sunland was also said to be seeking a "second bite at the cherry" after being frustrated by the earlier ruling.
"That's something that calls into play the court's need to protect its own processes," he said.
Peter Collinson, for Joyce, criticised the quality of the original Dubai investigation and trial, calling some of the key evidence "full of lies" and accusing Sunland of trying to influence the main appeal by bringing the Dubai decision to the attention of the court.
The court has reserved its decision.
Little later
Paul Little may have snagged the chairmanship of the Essendon Football Club, but the transport magnate has had less luck fulfilling his ambitions of getting back onto the board of Toll Holdings.
Little, who built Toll into a $3.8 billion transport powerhouse over more than two decades, was appointed to chair the Bombers on Monday, replacing David Evans.
It comes as the Bombers nervously await a report from the Australian Sports Anti-Doping Authority.
Since retiring as chief executive of Toll in late 2011, Little has made it clear he'd also like to return to the board of the transport company.
But Toll chairman Ray Horsburgh said in March many shareholders would rather see Little on the board "later rather than sooner".
North shore wars
The hedge funds that own the Nine Network, Oaktree and Apollo, are fast learning not to mess with the residents of Sydney's north shore.
The battle has reached new heights, literally, with the erection of a banner, near the TV station's Willoughby bunker.
The stoush started when Nine, run by David Gyngell , lodged plans in April with the NSW Planing department to redevelop the 2.9 hectares of prime land - which also houses a transmission tower - into posh apartments and townhouses
But that raised the ire of the Willoughby Area Action Group, Willoughby South Progress Association and Naremburn Progress Association, which all reckon the area will be crowded and left with an ugly mess.
Having already sought help from nearby resident Joe Hockey, the residents recently hung a banner from a pedestrian bridge. It reads: "CHANNEL 9. Too HIGH "Too DENSE. LISTEN to the COMMUNITY. Barry O'Farrell; and PAC."
Frequently Asked Questions about this Article…
The article describes a legal battle where Gold Coast developer Sunland returned to court seeking to introduce new evidence to enforce a $14 million sum that a Dubai criminal court ordered Australians Matt Joyce and Angus Reed to pay. Joyce and Reed were recently sentenced in absentia in Dubai, Sunland has three civil judgments against it in the Victorian Supreme Court, and the matters are now before the Court of Appeal.
The Dubai criminal court’s decision cited in the article ordered $14 million to be returned, and Sunland is attempting to rely on that foreign criminal judgment in its bid to enforce the sum.
An anti-suit injunction is a court order that stops a party from pursuing legal action in another jurisdiction. In this case, an anti-suit injunction previously blocked attempts to pursue a civil case in Dubai. Sunland is arguing that the Dubai criminal judgment already gives it permission to enforce the $14 million, and is seeking to reopen the injunction issue.
Counsel for Reed and Joyce challenged the quality of the translation of the Dubai judgment, accused Sunland of seeking a 'second bite at the cherry', and criticised aspects of the original Dubai investigation and trial— with one lawyer describing key evidence as 'full of lies' and warning Sunland’s move could improperly influence the main appeal.
The court has reserved its decision on Sunland’s application to introduce the Dubai judgment as new evidence and on whether the anti-suit injunction should be reopened.
The article does not specify direct financial outcomes, but it makes clear Sunland is engaged in ongoing, multi-jurisdictional litigation involving a $14 million claim and multiple civil judgments now before the Court of Appeal, which creates legal uncertainty investors may want to monitor until the courts rule.
Paul Little is a transport magnate who built Toll into a $3.8 billion business over two decades and retired as CEO in late 2011. The article notes he was appointed chair of the Essendon Football Club and has publicly signalled he’d like to return to Toll’s board, though Toll chairman Ray Horsburgh said many shareholders would prefer he join the board later rather than sooner.
Nine Network, owned by hedge funds Oaktree and Apollo according to the article, lodged plans to redevelop 2.9 hectares in Willoughby into apartments and townhouses. Local resident groups objected, citing concerns about density and visual impact, and even hung a banner protesting the plan. The story highlights community opposition that could complicate redevelopment proposals and is something investors tracking Nine or property-related plans might want to follow.
Call 1300 880 160
Start a chat
Schedule a call
