CEG Direct Securities Pty Ltd v Wang [2021] NSWCA 76

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: CEG Direct Securities Pty Ltd v Wang [2021] NSWCA 76 Hearing dates: 10 March 2021 Date of orders: 7 May 2021 Decision date: 07 May 2021 Before: Bathurst CJ at [1] Meagher JA at [2] Brereton JA at [3] Decision: (1) Grant leave to appeal; (2) Direct that the applicant within seven days file a Notice of Appeal in the form of the Draft Notice of Appeal; (3) Dismiss the appeal; (4) Remit the balance of the proceedings to the Common Law Division; and (5) Order that the applicant pay the respondents' costs. Catchwords: LAND LAW – Torrens title – Indefeasibility of title – Effects of indefeasibility – Construction of third party mortgages – Where executed pursuant to forged Powers of Attorney – Identification of secured money – Where no money advanced to or at the request of mortgagors – Where no acknowledgement of receipt – Mortgages held to have secured no money – Appeal dismissed – Balance of matter remitted MORTGAGES AND SECURITIES – Mortgages – Duties, rights and remedies of mortgagee – Possession CIVIL PROCEDURE – Court of Appeal – Leave to appeal – From separate questions – Practical effect of resolving claims finally and adversely to applicant – Leave granted Legislation Cited: Real Property Act 1900 (NSW), ss 41(1), 42, 57(1) Supreme Court Act 1970 (NSW), s 103 Cases Cited: Breskvar v Wall (1971) 126 CLR 376; [1971] HCA 70 CEG Direct Securities Pty Ltd v Shining Pty Ltd [2020] NSWSC 858 CEG Direct Securities Pty Ltd v Shining Pty Ltd (No 2) (2020) 19 BPR ¶40,671; [2020] NSWSC 1213 English Scottish and Australian Bank Ltd v Phillips (1937) 57 CLR 302; [1937] HCA 6 Ippin Textiles Pty Ltd v Winau Aust Pty Ltd [2021] NSWCA 9 Mitchell Morgan Nominees Pty Ltd v Vella (2011) 16 BPR ¶30,189; [2011] NSWCA 390 Partridge v McIntosh & Sons Ltd (1933) 49 CLR 453; [1933] HCA 38 Perpetual Trustees Victoria Ltd v Cox (2014) 17 BPR ¶33,313; [2014] NSWCA 328 Perpetual Trustees Victoria Ltd v English (2010) 14 BPR ¶27,339; [2010] NSWCA 32 Perpetual Trustees Victoria Ltd v Tsai (2004) 12 BPR ¶22,281; [2004] NSWSC 745 Printy v Provident Capital Ltd (2007) 13 BPR ¶24,603; [2007] NSWSC 287 PT Ltd v Maradona Pty Ltd (1992) 25 NSWLR 643 Pyramid Building Society (in liq) v Scorpion Hotels Pty Ltd [1998] 1 VR 188 Small v Tomasetti (2001) 12 BPR ¶22,253; [2001] NSWSC 1112 Story v Advance Bank Australia Ltd (1993) 31 NSWLR 722 Travinto Nominees Pty Ltd v Vlattas [1972] 1 NSWLR 24 Travinto Nominees Pty Ltd v Vlattas (1973) 129 CLR 1; [1973] HCA 14 Yazgi v Permanent Custodians Ltd (2007) 13 BPR ¶24,567 [2007] NSWCA 240 Texts Cited: J Stoljar, "Mortgages, Indefeasibility and Personal Covenants to Pay" (2008) 82 ALJ 28 Category: Principal judgment Parties: CEG Direct Securities Pty Ltd (Applicant) Xihai Wang (First Respondent) Hai Rong Li (Second Respondent) Registrar General of New South Wales (Third Respondent) Representation: Counsel: CRC Newlinds SC, J Baird & V Chan (Applicant) DA Smallbone (First & Second Respondents) A Douglas-Baker (Third Respondent)