THORNE & KENNEDY

In the matter of *Thorne & Kennedy*, Judge Demack of the Federal Circuit Court of Australia was required to determine the validity and enforceability of two financial agreements entered into between the parties. The applicant sought to have both agreements set aside, asserting they were not binding.

The central legal issues before the court were whether the first financial agreement dated 26 September 2007 and the second financial agreement dated 20 November 2007 were binding upon the parties, and consequently, whether they should be set aside.

His Honour found that neither of the financial agreements were binding on the parties. The court ordered that both the first financial agreement of 26 September 2007 and the second financial agreement of 20 November 2007 be set aside. The respondent was ordered to pay the applicant’s costs of the application, with the quantum to be agreed or determined by the court. The matter was adjourned for further directions.