Leitch, D.H. & Ors v Natwest Australia Bank Ltd & Ors [1995] FCA 104

CATCHWORDS INTERLOCUTORY INJUNCTION - decision in action reserved following hearing - application for injunction to prevent sale of property - whether a claim for relief which affects the exercise of the bank's rights as a mortgagee to be determined by trial Judge - deterioration in value of property - applicant unable to provide security to safeguard bank's position. MORTGAGEE SALE - sale by private treaty instead of auction, current valuations obtained Trade Practices Act - ss 52,80,87 Inglis v Commonwealth Trading Bank of Australia (1972) 126 CLR 161 Refd Harvey v McWatters (1949) 49 SR(NSW) 173 Cons Mainbanner Pty Ltd v Lubke & Ors (unreported decision 8.3.88 Pincus J) Refd Town & Country Sports Resort (Holdings) Pty Ltd & Ors v Partnership Pacific Limited (1988) FCR 540 Refd Commercial Bank of Australia Ltd v Amadio (1983) 151 CLR 447 Refd Louth v Diprose (1992) 175 CLR 621 Refd David Henry Leitch and Ors v Natwest Australia Bank Limited and Ors No QG174 of 1991 Kiefel J Brisbane 9 March 1995

IN THE FEDERAL COURT OF AUSTRALIA QUEENSLAND DISTRICT REGISTRY GENERAL DIVISION No. QG174 of 1991 BETWEEN: DAVID HENRY LEITCH First Applicant AND: ALMA MARGARET LEITCH Second Applicant AND: GARY DAVID LEITCH Third Applicant AND: GUDE PTY LIMITED (RECEIVER AND MANAGER APPOINTED) Fourth Applicant AND: GLEN PACIFIC PTY LIMITED (RECEIVER AND MANAGER APPOINTED (IN LIQUIDATION) Fifth Applicant AND: GLANDORE PTY LIMITED (RECEIVER AND MANAGER APPOINTED) (IN LIQUIDATION) Sixth Applicant AND: NATWEST AUSTRALIA BANK LIMITED First Respondent AND: PETER MURRAY WALKER Second Respondent AND: GLANDORE PTY LIMITED (RECEIVER AND MANAGER APPOINTED) (IN LIQUIDATION) Third Respondent JUDGE MAKING ORDER: Kiefel J. DATE OF ORDER: 9 March 1995 WHERE MADE: Brisbane MINUTES OF ORDERS THE COURT ORDERS THAT: 1. The application for an injunction be dismissed. 2. The fourth applicant pay the first and second respondents' costs of and incidental to the application to be taxed. NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.