An Allen Caratti-directed company, which has been in liquidation, has been tangled in a legal dispute over the sale of a property in Piara Waters.
An Allen Caratti-directed company, which has been in liquidation, has been tangled in a legal dispute over the sale of a property in Piara Waters.
Jaskaran Sodhi and Pushpinder Kaur sued Whitby Land Company in the Supreme Court of Western Australia, over a contract the parties signed.
Liquidators, receivers and managers were appointed to Whitby Land, a company partly owned and directed by property mogul Allen Caratti, in 2017.
Mr Sodhi and Ms Kaur signed a contract with Whitby Land, to buy the Piara Waters property in August 2021, according to a Supreme Court judgment delivered today.
The contract was subject to finance, but the couple claimed they had the necessary finance approval to settle on the contract.
Whitby Land claims the finance approval was not compliant, because it covered only 89 per cent of the loan, and ended the contract in April of this year.
In the judgment, Whitby Land claims the contract was no longer on foot and the Piara Waters property was to be sold to another buyer who made a higher offer.
The plaintiffs sought to keep a caveat over the contract, but Whitby Land claimed it should be removed, which would take away the protection of Mr Sodhi and Ms Kaur’s proprietary interest.
WA Supreme Court Justice Michael Lundberg today ordered the caveat be extended, finding the plaintiffs had arguable claims or interest in the matter.
Justice Lundberg said it was arguable that Whitby Land waived its right to terminate because of a delay of two years from the signing of the contract until ending the contract.
“This analysis is sufficient for the court to be satisfied that the plaintiffs have a serious question to be tried at the ultimate trial of the matter, an acceptance of which might entitle the plaintiffs (subject to any discretionary considerations) to specific performance of the contract,” his judgment reads.
“I will order that the caveat be extended until further order, to facilitate the hearing and determination of the plaintiffs' claims.”
Whitby Land was the entity behind one of Mr Caratti's biggest projects, being the development of a Piara Waters estate.
Australian Securities and Investments Commission data shows Whitby Land is owned by Mr Caratti and Liang Li, who lives in China.
Both names were also listed as directors of the company.
