Bartlett Investments Pty Ltd v Commonwealth Bank of Australia & Anor [1987] FCA 338

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Not for Distribution

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY QLD. G74 of 1987

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GENERAL DIVISION

BETWEEN: BARTLETT INVESTMENTS PTY. LTD. First Applicant AND: SYDBART PTY. LTD. Second Applicant AND: NORTH QUEENSLAND DEVELOPMENT (NO. 2) PTY. LTD. Third Applicant AND: COMMONWEALTH BANK OF AUSTRALIA First Respondent AND: WILSON JOSEPH WILDE Second Respondent SPENDER J.

BRISBANE

24 JUNE 1987.

REASONS FOR JUDGMENT

In these proceedings the applicants seek by way of

interlocutory relief an injunction until the hearing of the application or further order, restraining the Commonwealth Bank of Australia ("Commonwealth Bank") and Wilson Joseph Wilde from taking any further steps pursuant to a deed of appointment

whereby the Commonwealth Bank appointed Mr. Wilde receiver and

manager of the first applicant's assets and undertakings.

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The respondents, by notice of motion made returnable at the time appointed for the hearing of the application for interlocutory relief, seek orders that the statement of claim be struck out because it discloses no reasonable cause of action; that the applicants provide security for the respondents' costs; that it be made a condition of the grant of the interlocutory injunction sought by the applicants, that the first respondent be restrained from taking any further steps pursuant to the deed of appointment of the second respondent as receiver and manager of the first applicant's assets and undertakings, that the first applicant pay into Court $7,481,815.00, being the whole of the moneys presently due and owing by the first applicant to the first respondent pursuant to the deed of equitable charge; and also for an order that the first applicant forthwith deliver to the second respondent books and records which are particularised