Contracts

Lendlease has lost its appeal of a ruling that shot down its bid to enforce a $120 million purchase agreement for five plots of land in Campbelltown against a company controlled by the Macarthur-Onslow family. 

Engineering firm CIMIC has sold off half of its transport business, UGL Transport, to a Japanese company for $500 million, as it looks to expand into new markets. 

Adelaide lawyer Jason Karas must pay $41 million to his former business partner and law firm after he was found to have covertly negotiated to sell the firm’s Hong Kong-based entity while in the throes of ending the partnership.

Real estate fund manager Centuria Capital has acquired the management rights to 22 agricultural properties worth $444 million, expanding its portfolio in the sector to $1.3 billion. 

The operator of the Snowy Mountains hydro-electric scheme has secured new partnerships with a South Australian wind farm and a Victorian battery storage facility.

The purchaser of Frankston’s $115 million Peninsula Kingswood Country Golf Club has lost a summary dismissal bid, with the court calling out its “contrariness” as stymieing the case's progress without real cause. 

Real estate asset manager Dexus has won access to advice given by the lawyers of two shareholders of airport operator APAC over an alleged breach of a shareholder deed. 

A judge has handed Shinetec a win in its dispute with the developer of a scuttled $185 million project in Sydney, finding that $48 million owed by the builder to its parent company after the developer called on a letter of credit fell within the definition of ‘secured money’.

A superannuation fund has taken McCullough Robertson to court, arguing that its former solicitors failed to warn that a $33 million share sale agreement with Firecroft Technical Services could be jeopardised if a related Fair Work Commission approval was quashed. 

A Sydney builder has lost its challenge to a $453,000 judgment for a developer, with an appeals court finding the construction company claimed payment for a greater amount of work than was done on a project in Dural.