Urban Fortune Global Ltd v Deicorp Projects (Partridge Ave) Pty Ltd (No 2)

Urban Fortune Global Ltd brought an action against Deicorp Projects (Partridge Ave) Pty Ltd in the Supreme Court of Queensland. The dispute centred on an alleged repudiation of an informal written agreement for the sale of land. The plaintiffs claimed that the defendants had repudiated their obligation to agree on the terms of a contract for the sale of land. The defendants, in turn, argued that the plaintiffs had not validly nominated a "special purpose vehicle" or "Purchasing Entity" as required by the terms of the contract, and therefore, they could not be held to have repudiated the agreement.

The court was required to determine whether the plaintiffs had validly nominated a "special purpose vehicle" and "Purchasing Entity" as required by the contract before the defendants' obligation to make an offer arose. Additionally, the court had to consider whether the defendants had raised this defence in their pleadings and whether the plaintiffs had complied with the terms of the contract. The primary issue was whether the defendants' failure to accept the plaintiffs' offer for the sale of land amounted to a repudiation of the informal written agreement.

The court found that the plaintiffs had not complied with the terms of the contract by failing to validly nominate a "special purpose vehicle" and "Purchasing Entity" before the defendants' obligation to make an offer arose. Consequently, the court held that the defendants' obligation to make an offer did not arise. The court ruled in favour of the defendants, finding that there had been no repudiation of the agreement by the defendants. The plaintiffs' claim for damages was dismissed.