Huntsman International, LLC v Ready Unit Company Pty Ltd as trustee for the Ready Unit Trust

Huntsman International, LLC (Huntsman) commenced proceedings against Ready Unit Company Pty Ltd as trustee for the Ready Unit Trust (Ready Unit) in the Supreme Court of Western Australia. The dispute concerned the interpretation and enforceability of a deed of release and settlement agreement entered into between the parties. Huntsman sought to enforce certain provisions of the deed, while Ready Unit contended that the deed was void or unenforceable due to alleged misrepresentations and a failure of consideration.

The primary legal issues before the Court were whether the deed of release and settlement agreement was valid and enforceable, and if so, whether Huntsman had breached its obligations under the deed. Specifically, the Court had to determine if Ready Unit's defence of misrepresentation was made out, and if the consideration for the deed had failed. The Court also considered whether Ready Unit was estopped from denying the validity of the deed.

Justice Thompson found that Ready Unit had failed to establish its defence of misrepresentation. His Honour held that the representations relied upon by Ready Unit were not false, or if they were, they did not induce Ready Unit to enter into the deed. Furthermore, the Court determined that there was no failure of consideration, as Ready Unit had received the benefit of the settlement and release contemplated by the deed. Consequently, the deed was found to be valid and enforceable.

The Court ordered that Huntsman was entitled to enforce the deed of release and settlement agreement against Ready Unit.