Source : BUSINESS NEWS
Builder Pyramid Constructions (WA) has won extra time in a $3.8 million legal fight after revealing its sole director will be travelling around Europe for five weeks.
Fighting a Supreme Court action by peeved customer Celtic Capital Properties, Pyramid’s lawyer Rob Marando asked for an extra four weeks to file a defence in a blue related to the Halcyon Apartment project in Subiaco.
Mr Marando eventually won an extra three weeks for Applecross-based Pyramid to file its defence after conceding the director would be periodically contactable in Europe during his 35-day vacation.
The director was not identified in court, but Australian Securities and Investments Commission records show Jerry Masaryk is the sole director of Pyramid.
Celtic filed its legal action against Pyramid on April 13, alleging breaches of three loan agreements related to the property company financing the builder’s work on the 82-apartment Halcyon project.
Pyramid allegedly owes $599,578 under a subcontractor invoice payment deal struck in October 2023. It also allegedly owned $1.2 million under a second subcontractor invoice payment agreement struck in early 2024.
Pyramid allegedly also owes $2.1 million under a third agreement from early 2005, according to the Celtic writ.
Celtic is due to file its detailed statement of claim on July 8 in support of the broad allegations in its writ.
Under Supreme Court rules, Pyramid would have had a fortnight to file a defence from when Celtic filed its statement of claim.
At the first case management for the hearing on Monday morning, Mr Marando told Registrar Acacia Hosking that the Pyramid director would be leaving on July 7 and would not be returning until August 10.
Mr Marando said one aspect of Celtic claim could be covered by insurance and Pyramid might need that part of its defence to be approved by the insurer.
After Registrar Hosking suggested the director would be contactable overseas, Mr Marando said he expected aspects of Celtic’s statement of claim would be “quite significant” and the director would be travelling around Europe.
Celtic lawyer Ivan Armeli said the time being sought by Pyramid to file its defence seemed “quite excessive”.
Registrar Hosking said the director was travelling but still contactable.
She gave Pyramid until August 10 to file its defence and told the lawyers to come back to court on August 17.
