Litigation update: High Court updates ‘reasonable endeavours’ — commercial interests vs an obligation owed
In Electricity Generation Corporation v Woodside Energy Ltd; Woodside Energy Ltd v Electricity Generation Corporation  HCA 7 (5 March 2014), the High Court has, by a 4:1 majority, held that Woodside Energy and other gas suppliers in Western Australia (the sellers) did not breach their obligation under a gas supply agreement to use ‘reasonable endeavours’ to make additional quantities of gas available to the Electricity Generation Corporation t/as Verve Energy.
The court has reaffirmed its approach to the interpretation of commercial contracts that such contracts should be given a business-like interpretation on the assumption that parties intended to produce a commercial result.
Viewed in this light, contractual obligations framed in terms of ‘reasonable endeavours’ do not oblige a party to forego or sacrifice their business interests…
Click on the link below to read the rest of the DLA Piper briefing.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
This is an Australian-specific alternative chapter on data protection, which was designed to assist organisations operating in Australia with their new privacy responsibilities.
Health Alert — Lane v Northern NSW Local Health District (No 3); Psychology Board of Australia v Tubara; and more
DLA Piper has released the 28 July 2014 issue of its Health Alert, which focuses on judgments, legislation and reports in the health sector.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions