Ageist Pty Ltd v Samuel M Holdings Pty Ltd (Receiver and Manager Appointed) [2021] NSWSC 988

Supreme Court New South Wales

Medium Neutral Citation: Ageist Pty Ltd v Samuel M Holdings Pty Ltd (Receiver and Manager Appointed) [2021] NSWSC 988 Hearing dates: 22, 29 and 30 July 2021 and 6 August 2021 Date of orders: 06 August 2021 Decision date: 06 August 2021 Jurisdiction: Equity - Duty List Before: Henry J Decision: Order that that the caveats be withdrawn and the first defendant's director and the second and third defendants be restrained from lodging any further caveats without leave. Catchwords: LAND LAW – Caveats – Extension of operation of caveats – where caveats claim interests based on bad faith by mortgagee in exercising its power of sale – where bad faith alleged in relation to mortgagee's removal of property from auction and decision to sell to third party – caveats ordered to be withdrawn Legislation Cited: Real Property Act 1900 (NSW), s 74MA Supreme Court (Corporations) Rules 1999 (NSW), r 2.13(1)(a) Cases Cited: Ageist Pty Ltd v More Than Skin Pty Ltd [2020] NSWSC 1117 Ageist Pty Ltd v More Than Skin Pty Ltd (No 2) [2020] NSWSC 1176 Barns v Queensland National Bank Ltd (1906) 3 CLR 925; [1906] HCA 26 Bayblu Holdings Pty Ltd v Capital Finance Australia Ltd [2011] NSWCA 39 Commercial and General Acceptance Ltd v Nixon (1981) 152 CLR 491; [1981] HCA 70 Commonwealth Bank of Australia v Hadfield [2004] NSWCA 350 Forsyth v Blundell (1973) 129 CLR 477; [1973] HCA 20 Fuge v Commonwealth Bank of Australia [2019] FCA 1621 Hanson Construction Materials Pty Ltd v Roberts (2016) 93 NSWLR 1; [2016] NSWCA 240 Hawkesbury Development Co Ltd v Landmark Finance Pty Ltd (1969) 2 NSWR 782 Hawkesbury Valley Developments Pty Ltd v Custom Credit Corporation Ltd (1994) 8 BPR 15,581 Inglis v Commonwealth Trading Bank of Australia (1972) 126 CLR 161; [1972] HCA 74 Jonsue Investments Pty Ltd v Balweb Pty Ltd [2013] NSWSC 325 Kennedy v De Trafford [1897] AC 180 Oswal v Burrup Fertilisers Pty Ltd (Receivers and Managers Appointed) (2013) 295 ALR 708; [2013] FCAFC 9 Pendlebury v Colonial Mutual Life Assurance Society Ltd (1912) 13 CLR 676; [1912] HCA 9 Perpetual Nominees Ltd v Springfield Retail Pty Ltd [2009] NSWSC 188 Samuel M Holdings Pty Limited v The Trust Company (PTAL) Limited [2020] NSWSC 248 Sinclair v Hope Investments Pty Limited [1982] 2 NSWLR 870 Stone v Farrow Mortgage Services Pty Ltd (in liq) [1999] NSWCA 435 The Trust Company (PTAL) Limited v Samuel M Holdings Pty Limited [2020] NSWSC 863 The Trust Company (PTAL) Ltd v Samuel M Holdings Pty Ltd [2020] NSWSC 556 The Trust Company (PTAL) Ltd v Samuel M Holdings Pty Ltd [2020] NSWSC 556 Ultimate Property Group Pty Ltd v Lord (2004) 60 NSWLR 646; [2004] NSWSC 114 Texts Cited: E L G Tyler, P W Young and C E Croft, Fisher & Lightwood's Law of Mortgage (3rd ed, 2014, LexisNexis Butterworths) Category: Principal judgment Parties: Ageist Pty Ltd (Plaintiff) Samuel M Holdings Pty Ltd (Receiver & Manager Appointed) (First Defendant) Lila Stojcevski (Second Defendant) Lupco Stojcevski (Third Defendant) Representation: Counsel: A G Martin (Plaintiff)