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ARTICLE · 30 APRIL 2017

Withdrawing last minute offers to settle – not as simple as one might think

Cooper Grace Ward
Cooper Grace Ward
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Cooper Grace Ward

Cooper Grace Ward

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We discuss Project Gas Services Pty Ltd v Leaseplus Operations Pty Ltd [2017] VSCA 55.

AustraliaLitigation, Mediation & Arbitration
Rocco Russo
Rocco Russo
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Recently, the Victorian Court of Appeal, in Project Gas Services Pty Ltd v Leaseplus Operations Pty Ltd [2017] VSCA 55, upheld the decision of the County Court, which had refused an application to withdraw an offer to settle in circumstances where the party receiving the offer had halved its initial claim.

Facts

The case related to damages for the premature termination of a head car lease agreement. Leaseplus was claiming:

  • liquidated damages for approximately $1 million in relation to wrongful termination of the agreement (Termination Amount); and
  • unliquidated damages relating to lost profits and interest for approximately $1 million (Lost Profits).

The calculation of the Lost Profits before trial was very contentious. The experts' joint report stated that they had insufficient information to make a definite assessment. Each expert proposed a number of various discount rates to apply.

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