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Court of Appeal dismisses appeal from the High Court, and affirms the grant of an interlocutory injunction restraining the defendants from excluding the plaintiffs from involvement in a project to purchase and develop certain lands, on the grounds that: (a) the parties had entered into a legally binding agreement to purchase and develop the lands as a joint venture, although they had failed to agree terms; (b) whether or not the relationship could be described as a partnership, there was a contractual relationship between them; and (c) it was not in dispute that the defendant was 'balance sheet insolvent', so was unable to meet any award of damages as matters stood.
Injunction - order restraining acquisition and development of lands - appeal from grant of injunction - proposed 'media park' - negotiations between parties - 'memorandums of understanding' (MOU) - proposed joint venture - second MOU stated to be 'binding and enforceable' - disagreement as to proposed terms - whether partnership existed between parties - expenditure by plaintiff of over 900K on project - whether permanent injunction might be granted by trial judge - whether fair issue to be tried - balance of justice, to include adequacy of damages - role of appellate court on appeal from discretionary interlocutory order.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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