Superyacht Technologies Pty Ltd v Mackeddie Marine Pty Ltd

Superyacht Technologies Pty Ltd brought an action against Mackeddie Marine Pty Ltd and others, seeking payment of fees for their role in the sale of a yacht. The dispute centred around two agreements between the parties, each for the sale of the yacht on a Central Agency basis, and whether Superyacht Technologies was entitled to payment under these agreements. The court was required to determine if Superyacht Technologies was entitled to a fee under the first agreement if the legal, rather than beneficial, interest in the yacht was transferred to the buyer. Additionally, the court had to consider whether the entry into a second agreement extinguished any entitlement to payment under the first agreement. Finally, the court needed to interpret clause 9(b) of the second agreement, which provides for payment of a fee where the yacht is sold within 12 months of termination of the agreement to a seller introduced during the term of the agreement.

The court found that the entry into the second agreement did not extinguish any entitlement to payment under the first agreement. The court held that the second agreement did not explicitly address the payment of fees for a sale occurring after the termination of the agreement. The court further found that clause 9(b) of the second agreement was ambiguous, but could be interpreted to include a sale occurring after the termination of the agreement, provided the sale was to a seller introduced during the term of the agreement. The court held that Superyacht Technologies was entitled to payment under the second agreement.

The court ordered judgment in favour of the defendant in proceeding 4097 of 2010 and in favour of the plaintiff, the third defendant and the fourth defendant against the first defendant and the second defendant in proceeding 11982 of 2010, in the sum of $1,140,000, together with interest in the sum of $240,805.