Bank of New South Wales v Permanent Trustee Company of New South Wales Limited [1943] HCA 27

REPORTS OF CASES

DETERMINED IN THE

HIGH COURT OF AUSTRALIA

Mie oo ud tes

[HIGH COURT OF AUSTRALIA.)

BANK OF NEW SOUTH WALES . ss . APPELLANT ; PLAINTIFF, AND

PERMANENT TRUSTEE COMPANY OF NEW SOUTH WALES LIMITED DEFENDANT,

RESPONDENT.

ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES.

Moratorium—Mortgage to secure moneys payable under guarantee—Revival of H.C. or A. personal covenant—Moratorium Act 1930-1931 (N.S.W.) (No. 48 of 1930— — j 943, No. 43 of 1931), as. 2, 25 (7)—Moratorium and Interest Reduction (Amendment) ~~ Act 1931 (W.S.W.) (No. 66 of 1931), 8. 4—Moratorium Act 1932-1936 (N.S. W.) Sypnny, (Wo. 57 of 1932—No. 58 of 1936), ss. 33, 34, 35, 41.

On Ist February 1932 a mortgage of land was executed to secure payment by the mortgagor of moneys which had become payable by him under a cz. 4,

guarantee of an unsecured debt which he had given in 1928, = Latham .J.,

Held, by Latham C.J., Rich and McTiernan JJ. (Starke J. dissenting), that "!h,Si"k° liability on the personal covenant in the mortgage was not revived by the M"tieman JJ. Moratorium Act 1932-1936 (N.S.W.).

"Decision of the Supreme Court of New South Wales (Full Court), by majority, affirmed.

H, C. or A.

1943, ee Bank or

New Sourn WaALEs

Warus Lrp.

HIGH COURT [1943.

Aprprat from the Supreme Court of New South Wales.

An action was brought in the Supreme Court of New South Wales by Bank of New South Wales against Permanent Trustee Co. of New South Wales Ltd., as executor of the will of Percy Moore Wood, medical practitioner, deceased, for the recovery of the sum of £4,096 5s. 1d. together with interest upon the sum of £2,745 17s. 2d., part of the first-mentioned sum, from the date of the writ until judgment at the rate of four and one-half per cent per annum under the covenants for payment of principal and interest contained in a certain memorandum of mortgage under the provisions of the Real Property Act 1900 (N.S.W.), made between Dr. Wood as mortgagor and the plaintiff as mortgagee.