Australia, July 14 -- New South Wales Land and Environment Court issued text of the following judgement on June 13:
1. Davis Stack Capital Pty Ltd, PCL Corp Pty Ltd, Enveedee Investments Pty Ltd and Caerleon Mudgee Pty Ltd (the sellers) hold units in a trust over a partially developed land estate in Mudgee, New South Wales.
2. On 28 November 2022, the sellers agreed to sell those units to the first defendant, Raj & Jai (Mudgee) Pty Ltd (the buyer) for $70 million under a Unit Sale and Purchase Agreement (USPA).
3. Under the USPA, the buyer was to pay the first deposit of $3.5 million on the date of contract, a second deposit of $3.5 million on or before 1 October 2023, and the balance on the scheduled date of completion on 1 July 2024.
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