Class Action – Summerlin Parkside Contract Cancellations
An in-principle agreement to settle this class action based on alleged wrongful contract termination was reached on 15/12/2025.
Under the proposal, the developer will pay a gross amount for allocation to off-the-plan unit buyers at different rates according to the category in which they fit and then pro-rata within each category according to the configuration of the unit under contract and the valuer’s opinion of its current completed value.
The categories and payments within each category are as follows:-
Cat 1: where the purchasers challenged the purported ‘financial viability’ termination by the developers.
Cat 2: where purchasers accepted the return of their deposits. A discount applies to damages to reflect the litigation risk associated with the developer’s contention these buyers acquiesced to its termination.
Cat 3: purchasers who accepted the developer’s purported termination, signed a release and were paid something by way of compensation will receive a nominal sum.
Cat 4: purchasers who accepted the developer’s offer to agree a termination prior to it purporting to terminate on the basis of “financial viability”, will receive a nominal sum.
Legal costs will be paid by the developer in addition.
A court approval hearing will occur in February 2026.
Particulars of the settlement are confidential until court approval is obtained.