Federal Court of Australia
"JUDGMENT fo. COT LBL...
IN THE FEDERAL COURT OF AUSTRALIA
GENERAL DIVISION
) ) NEW SOUTH WALES DISTRICT REGISTRY ) No. G583 of 1987 ) )
BETWEEN: JULIE SAAD AND NEVILLE SAAD
Applicant
AND: DEUTSCHE BANK (ASTA) A.G. (Formerly European Asian Bank A.G.)
Respondent
MINUTE OF ORDER
JUDGE MAKING ORDER: BEAUMONT J.
DATE OF ORDER: 25 NOVEMBER 1987 WHERE MADE: SYDNEY
THE COURT ORDERS:
1.
2.
3.
Note:
Application for interim relief refused.
Costs of this application to be the respondent's costs in the proceedings.
Transfer the matter to the Supreme Court of New South Wales.
Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
2 SNOV 1987
\. FEDERAL COURT OF ON AUSTRALIA
RINCIPAI HES
NEW SOUTH WALES DISTRICT REGISTRY
IN THE FEDERAL COURT OF AUSTRALIA
No. G583 of 1987
GENERAL DIVISION
BETWEEN: JULIE SAAD AND NEVILLE SAAD
Applicant
AND: DEUTSCHE BANK (ASIA) A.G, (Formerly European Asian Bank A.G.)
Respondent
CORAM: BEAUMONT J PLACE: SYDNEY DATE: 25 NOVEMBER, 1987
REASONS FOR JUDGMENT BEAUMONT J. The applicants, Mrs. Julie Saad and her husband, Mr. Neville Saad, have commenced proceedings against the respondent, Deutsche Bank (Asia) A.G. ("the Bank") seeking to restrain the exercise by the Bank of any power of sale conferred upon the Bank by a mortgage over property owned by Mr. and Mrs. Saad, being Units 1, 5, 6, 7, 9, 10, 12 and 14 at
60-64 Meehan Street, Granville; in the proceedings, the
applicants also seek damages under s.82 of the Trade Practices
Act 1974 ("the Act"); they further seek an order under
s.87(2)(b) of the Act varying the terms of the mortgage.
war oss
asa mos
The present application is for an interim injunction restraining any sale by the Bank pending the final hearing of
the principal proceedings.
In late 1981, Mr. Vincent Tanna, Mrs. Saad's brother, suggested to her that members of the family, including Mr. and Mrs. Saad, borrow a large amount from an overseas lender. This suggestion was acceptable to Mr. and Mrs. Saad and early un 1982, documentation was executed by Mr. and Mrs. Saad, the Bank and other parties which included a mortgage over the subject property. In 1983, Mr. Vincent Tanna told Mrs. Saad that he and his father wanted to borrow more funds. [In about October 1983, Mr. and Mrs. Saad and other members of the Tanna family and the Bank executed further documentation for this purpose. In about September 1985, Mr. and Mrs. Saad, and other members of the Tanna family, executed a supplementary
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