Australia, March 12 -- New South Wales Land and Environment Court issued text of the following judgement on Feb. 13:
1. The parties entered a number of agreements about a proposed 40/60 joint venture property development in Yarraville in Victoria, including a March 2016 agreement which Mr Jiang claims was breached because the defendant has not made the final outstanding payment it provided for, to acquire his shares in the joint venture vehicle. The development was not pursued after Mr Jiang's involvement in the venture came to an end and the property was eventually sold.
2. In these proceedings Mr Jiang pursues orders for damages of over $5 million, which he claims ought to have been paid to him as the final amount due under the 2016 agr...