Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Digiplus Pty Ltd v RSL COM Partners Pty Ltd [2003] FCA 1094
CORPORATIONS LAW – fixed and floating charge – whether payment must be received by the chargee before charge is discharged – effect of payment into Court – whether payment into Court by chargor pending litigation entitles chargor to be released from charge – whether upon payment into Court chargor is entitled to statutory memorandum of discharge MORTGAGES AND CHARGES – whether payment into court exonerates chargor from payment to chargee Conveyancing Act 1919 (NSW), s 171 Corporations Act 2001 (Cth), s 269 Federal Court of Australia Act 1976 (Cth), s 23 Bank of New South Wales v O'Connor (1889) 14 App Cas 273, referred to DIGIPLUS PTY LIMITED (ACN 077 535 605) v RSL COM PARTNERS PTY LIMITED (ACN 072 081 906) N 3015 of 2003 GYLES J 9 OCTOBER 2003 SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY N 3015 OF 2003
BETWEEN: DIGIPLUS PTY LIMITED (ACN 077 535 605)
APPLICANT
AND: RSL COM PARTNERS PTY LIMITED (ACN 072 081 906)
RESPONDENT
JUDGE: GYLES J
DATE OF ORDER: 9 OCTOBER 2003
WHERE MADE: SYDNEY
THE COURT ORDERS THAT: 1. The answers to the separate questions are as follows: 1. Whether upon paying the amount of $3,389,171.34 into Court on 14 April 2003 ('the Payment'), the Applicant has been exonerated from making payment of the debt then alleged to be owing pursuant to the Charge referred to in the Application ('the Charge')? Answer: No. 1. Whether the Payment operated by operation of law to discharge the debt up to the amount of the Payment within the meaning of s 269 of the Corporations Act? Answer: No. C Whether in the premises the Respondent is obliged to deliver to the Applicant a memorandum in prescribed form acknowledging that the debt up to the amount of the Payment has been discharged pursuant to s 269 of the Corporations Act? Answer: No. 2. The applicant pay the respondent's costs of and incidental to the separate questions and the application therefor. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
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