Sentinel Citilink Pty Ltd v PS Citilink Pty Ltd

Sentinel Citilink Pty Ltd (the seller) brought an action against PS Citilink Pty Ltd (the buyer) regarding the sale of certain commercial property. The dispute centred on the amount of consideration to be recorded on the transfer forms at settlement. The seller argued that the original purchase price of $81,200,000 should be recorded, while the buyer contended that the adjusted amount of $79,196,949.34 should be recorded. The case was heard in the Supreme Court of Queensland.

The primary legal issues the court needed to address were whether the seller was correct in insisting on recording the unadjusted purchase price on the transfer forms and whether the seller breached its contractual obligations by not completing the forms in accordance with the law. The court had to determine whether the contract's special condition regarding the adjustment of the purchase price should be reflected in the transfer forms.

The court found that the seller was incorrect in insisting on recording the unadjusted purchase price on the transfer forms. The court determined that the parties' obligations under the contract required them to complete the transfer forms consistently with the law and in accordance with the instructions. The seller was found to have breached its contractual obligations by not completing the forms as required. The court declared that the seller's termination of the contract was not lawful and ordered the parties to be heard further regarding specific performance and compensation orders. The court also ordered the seller to pay the buyer's costs of the proceeding.

The court's orders were that the contract was not lawfully terminated, and the parties would be heard further regarding specific performance and compensation orders. The court further ordered the seller to pay the buyer's costs of the proceeding.