Waller Projects Pty Ltd v F.W. Estate Pty Ltd (No 2)

Waller Projects Pty Ltd v F.W. Estate Pty Ltd (No 2) involved a legal dispute between Waller Projects Pty Ltd and F.W. Estate Pty Ltd, with related counterclaims. The case was heard in the Supreme Court of New South Wales. Waller Projects alleged that F.W. Estate breached fiduciary duties in the acquisition and development of a property. The Court was required to determine whether such breaches occurred and, if so, the appropriate legal consequences, including costs.

The central legal issues included whether the plaintiff’s claims for breach of fiduciary duties were substantiated and the basis for assessing costs if the plaintiff’s claims failed. Specifically, the Court had to decide whether the plaintiff should bear the costs of the proceedings under the standard basis. Additionally, the Court examined a formal offer made by F.W. Estate to settle the proceedings, assessing whether this offer was relevant as a Calderbank offer under the Uniform Civil Procedure Rules 1999.

The Court found that Waller Projects' claims entirely failed and there was no breach of fiduciary duties by F.W. Estate. Consequently, judgment was entered in favour of F.W. Estate on Waller Projects' claims. The Court also dismissed the counterclaim and ordered that the monies paid by Waller Projects into Court as security for F.W. Estate's costs be released to the defendants and paid into a nominated bank account. Moreover, the Court ruled that Waller Projects and associated individuals must pay F.W. Estate’s costs on the standard basis. The Court found that the formal offer was not relevant as a Calderbank offer because Waller Projects did not obtain an order more favourable than the offer. Thus, the Court made an order for costs based on the standard basis.