ST KILDA ROAD PTY LTD V 170-174 ST KILDA ROAD PTY LTD [2000] VSC 65
Supreme Court of Vic – 8 March 2000
FACTS
170 – 174 St Kilda Road (“170”) was the owner of the property at 170-174 St Kilda Rd, Melbourne. 170 agreed to sell the property to St Kilda Road Pty Ltd for $1,400,000.00. St Kilda Road Pty Ltd was to pay the balance owing on 14 September1999 but elected to extend the settlement date by paying $25,000.00 to 170 by cheque.
On 17 September 1999, St Kilda Road Pty Ltd stopped payment on the cheque and later on the same day 170 served a Notice of Default on St Kilda Road Pty Ltd. St Kilda Road Pty Ltd failed to comply with the Notice and failed to pay any further moneys to 170.
On 1 December 1999, 170 executed a new contract to sell the property to NDH. St Kilda Road Pty Ltd then lodged a caveat on the title to the property.
On 7 February 2000, the Supreme Court ordered that the caveat be removed. On 8 February 2000, St Kilda Road Pty Ltd lodged another caveat on the title. On 16 February 2000, the Supreme Court ordered that the second caveat be removed.
St Kilda Road Pty Ltd then issued this proceeding seeking an order that the Notice of Default was invalid as there was a contract between 170 and St Kilda Road Pty Ltd.
ISSUE
Should the Court stay the proceeding on the basis that it was an abuse of process?
FINDING
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