Bank Guarantee | Court of Appeal Allows Injunction

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The NSW Court of Appeal on 1 November 2010 in Lucas Stuart Pty Ltd v Hemmes Hermitage Pty Ltd [2010] NSWCA allowed an injunction preventing a call upon the performance bond because of the possible likely damage to the contractors’ reputation and financial standing. There will be significant implications for businesses seeking to terminate contracts for a ‘material breach’.

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