Business Finance Pty Ltd (receiver and manager appointed) v Partner Invest Pty Ltd (in liquidation) [2022] NSWSC 1

Supreme Court New South Wales

Medium Neutral Citation: Business Finance Pty Ltd (receiver and manager appointed) v Partner Invest Pty Ltd (in liquidation) [2022] NSWSC 1 Hearing dates: 12 July 2021 Decision date: 07 January 2022 Jurisdiction: Equity Before: Rees J Decision: Declare equitable assignment of mortgage; consequential relief. Catchwords: EQUITY – principles on equitable assignment at [64] – Statute of Frauds at [67] – fraud on statute at [74] – part performance at [76] – assignment of loan and mortgage security between related entities – formal documentation not executed. Legislation Cited: Conveyancing Act 1919 (NSW), ss 23C, 54A Instruments Act 1958 (Vic), s 126 Property Law Act 1958 (Vic), s 53 Cases Cited: Adamson v Hayes (1973) 130 CLR 276; [1973] HCA 6 Australian & New Zealand Banking Group Ltd v Widin (1990) 26 FCR 21 Baloglow v Konstantinidis [2001] NSWCA 451; (2001) 11 BPR 20,721 Brown, Shipley & Co v Kough (1885) 29 Ch D 848 Ciaglia v Ciaglia [2010] NSWSC 341; (2010) 269 ALR 175 Comlin Holdings Pty Ltd v Metlej Developments Pty Ltd [2018] NSWSC 761 Dunphy v Russell [2018] NSWSC 721 Harvey v Edwards Dunlop and Co Ltd (1927) 39 CLR 302 at 307; [1927] HCA 13 Islamic Council of South Australia Inc v Australian Federation of Islamic Councils Inc [2009] NSWSC 211 Kation Pty Ltd v Lamru Pty Ltd (No 2) [2012] NSWSC 356 Metha v J Pereira Fernandes SA [2006] EWHC 813 Mid-City Skin Cancer & Laser Centre Pty Ltd v Zahedi-Anarak (2006) 67 NSWLR 569; [2006] NSWSC 844 Norman v Federal Commissioner of Taxation (1963) 109 CLR 9; [1963] HCA 21 Phung v Phung [2019] NSWSC 117; (2019) 19 BPR 39107 Pipikos v Trayans (2018) 265 CLR 522; [2018] HCA 39 Pirie v Saunders (1961) 104 CLR 149; [1961] HCA 4 Powercell Pty Ltd v Cuzeno Pty Ltd [2004] NSWCA 51; (2004) 11 BPR 21,429 Primary Yield Finance Pty Ltd v Meyer [2012] VSC 595 Shepherd v Federal Commissioner of Taxation (1965) 113 CLR 385; [1965] HCA 70 Stuart v Hishon [2013] NSWSC 766 Taleb v National Australia Bank Ltd (2011) 82 NSWLR 489; [2011] NSWSC 1562 William Brandt's Sons & Co v Dunlop Rubber Co Ltd [1905] AC 454 Category: Principal judgment Parties: Business Finance Pty Ltd (Receiver and Manager appointed) (First Plaintiff) Marcus Ayres in his capacity as Receiver and Manager of Business Finance Pty Ltd (Second Plaintiff) Partner Invest Pty Ltd (in liquidation) (Defendant) Representation: Counsel: Mr S Ipp (Plaintiffs) Mr J Entwisle (Defendant)