Thirty-four buyers brought lesson action against Kaymet Corporation when contracts were rescinded using ‘sunset clawback’ clause meant to protect buyersA developer has won the right to rescind the contracts of 37 first-domestic buyers after the apartments on which they signed contracts five years before more than doubled in value before the building was finished.
Thirty-four buyers took the Sydney development company Kaymet Corporation to the supreme court after it used a “sunset clawback” clause to rescind contracts signed between 2009-10 for between $370000 and $600000. Continue reading...
Source: theguardian.com