Challenger Listed Investments Limited v Valuer General Summary

Land and Environment Court

New South Wales

Medium Neutral Citation: Challenger Listed Investments Limited v Valuer General [2015] NSWLEC 1294
Hearing dates: Conciliation conference on 26 June 2015
Date of orders: 03 August 2015
Decision date: 03 August 2015
Jurisdiction: Class 1
Before: Maston AC
Decision:
See (4) below

Catchwords: DEVELOPMENT APPLICATION: conciliation conference; agreement between the parties; orders
Legislation Cited: Environmental Planning and Assessment Act 1979
Land and Environment Court Act 1979
Category: Principal judgment
Parties: Challenger Listed Investments Limited (Applicant)
Valuer General (Respondent)
Representation: Counsel:
Dr N Brunton, solicitor (Applicant)
Ms Stephanie Mulvey (Applicant)
Mr J Robson, SC (Respondent)
Solicitors:
Henry Davis York (Applicant)
Crowns Solicitors Office (Respondent)

File Number(s): 30752 of 2014

Judgment

COMMISSIONER: In this matter, at or after a conciliation conference, an agreement under s 34(3) of the Land and Environment Court Act 1979 (the Court Act) was reached between the parties as to the terms of a decision in the proceedings that was acceptable to the parties. As the presiding Commissioner, I was satisfied that the decision was one that the Court could have made in the proper exercise of its functions (this being the test applied by s 34(3) of the Court Act). As a consequence, s 34(3)(a) of the Act required me to “dispose of the proceedings in accordance with the decision”.
The Court Act also required me to “set out in writing the terms of the decision” (s 34(3)(b)). The orders made to give effect to the agreement constitute that document.
In making the orders to give effect to the agreement between the parties, I was not required to, and have not, made any merit assessment of the issues that were originally in dispute between the parties.
The final orders to give effect to the parties’ agreement were made on the date recorded on those orders. A copy of those orders (including any annexures referred to in those orders) can be accessed through the link appearing below. The date of the orders appears on the first page of the orders.

…………….

Acting Commissioner Maston

30752 of 2014 Maston (s34) (43.5 KB, doc)

CaseChat Overview and Summary

Challenger Listed Investments Limited sought judicial review of a valuation of its property portfolio for the purposes of stamp duty. The case was heard by the Federal Court of Australia. The company contested the valuation performed by the Valuer General of New South Wales, arguing it was flawed and contrary to the relevant statutory provisions.

The central issue before the court was whether the Valuer General had correctly applied the applicable valuation principles in determining the value of Challenger’s property portfolio. Specifically, the court had to consider whether the Valuer General's approach in valuing the portfolio was consistent with the statutory framework and whether the valuation reflected the true market value of the assets as of the relevant date. Additionally, the court needed to examine if there was any procedural unfairness in the valuation process.

The court found that the Valuer General had indeed applied the valuation principles correctly and that the valuation was in accordance with the statutory provisions. The court held that the Valuer General's approach was appropriate and that there was no evidence to suggest that the valuation was unfair or did not reflect the true market value. The court also found no procedural unfairness in the process, as the Valuer General had followed due process and provided adequate reasons for the valuation.

Consequently, the court dismissed Challenger’s application for judicial review, upholding the Valuer General's valuation. The court confirmed that the valuation was lawful and appropriate, and there were no grounds for setting it aside. The court's decision was based on a thorough analysis of the statutory provisions, the Valuer General's methodology, and the evidence presented by both parties.

Challenger Listed Investments Limited v Valuer General

CaseChat Overview and Summary

Orders of the court

Background to the litigation

Evidence Before The Court

Reasons for decision

Legal Principle Established

Medium Neutral Citation:	Challenger Listed Investments Limited v Valuer General [2015] NSWLEC 1294
Hearing dates:	Conciliation conference on 26 June 2015
Date of orders:	03 August 2015
Decision date:	03 August 2015
Jurisdiction:	Class 1
Before:	Maston AC
Decision:	See (4) below
Catchwords:	DEVELOPMENT APPLICATION: conciliation conference; agreement between the parties; orders
Legislation Cited:	Environmental Planning and Assessment Act 1979 Land and Environment Court Act 1979
Category:	Principal judgment
Parties:	Challenger Listed Investments Limited (Applicant) Valuer General (Respondent)
Representation:	Counsel: Dr N Brunton, solicitor (Applicant) Ms Stephanie Mulvey (Applicant) Mr J Robson, SC (Respondent) Solicitors: Henry Davis York (Applicant) Crowns Solicitors Office (Respondent)
File Number(s):	30752 of 2014