Lahoud v Lahoud

The case of Lahoud v Lahoud involved a dispute between the parties regarding damages arising from a breach of contract. The dispute was heard in the Supreme Court of Queensland. The Joseph Lahoud interests sought damages for the failure of the Victor Lahoud interests to transfer residential units for a period of six years. The Joseph Lahoud interests claimed damages referable to lost rent or interest on the capital value of the units.

The legal issues that the court had to decide were whether the Joseph Lahoud interests had established the loss of income from the failure to transfer the income-producing asset and whether the Deed of Settlement created a new right to audit or if the reasonable time for the exercise of the right under the Terms had elapsed. The court had to determine if the right to audit should be construed to mean an audit of specific figures or an audit of project profits. The court found that the Joseph Lahoud interests had only established loss of rents from particular leases existing at the time of the breach until the expiry of those leases and had otherwise failed to establish loss. The court also held that the Deed created a new right to audit and, if not, a reasonable time had not elapsed. The right to audit was construed to mean a right to audit of project profits.

The final orders of the court were that the Joseph Lahoud interests were entitled to damages for the loss of rents from particular leases existing at the time of the breach until the expiry of those leases and an option lease. The Victor Lahoud interests were required to pay the damages to the Joseph Lahoud interests. The court also held that the Deed created a new right to audit and that the right to audit should be construed to mean an audit of project profits. The Victor Lahoud interests were required to allow the Joseph Lahoud interests to audit the project profits.