Neptune Hospitality Pty Ltd v Ozmen Entertainment Pty Ltd – Federal Court (Full Court) (McKerracher, Markovic and Anastassiou JJ) [2020] FCAFC 47 – 19 March 2020

Joint venture – Fiduciary duty – Joint venture agreement to operate business offering luxury cruises on Sydney Harbour – Demise charter of vessel for purpose of joint venture – Whether appellant in breach of joint venture agreement – Whether joint venture agreement validly terminated – Whether charterparty validly terminated

On 6 January 2016 a joint venture agreement (JVA) was concluded between the second respondent, Kanki Sea Tourism Hospitality & Entertainment Pty Ltd (Kanki), a company incorporated by Mr Mert Ozmen, a Turkish businessman, and the appellant, Neptune Hospitality Pty Ltd (Neptune), a company incorporated by two Australian businessmen.