ASIL Foundation (Lending) Pty Ltd v Blue Mountains Development Pty Ltd [2022] NSWSC 480

Supreme Court New South Wales

Medium Neutral Citation: ASIL Foundation (Lending) Pty Ltd v Blue Mountains Development Pty Ltd [2022] NSWSC 480 Hearing dates: 13 April 2022 Date of orders: 22 April 2022 Decision date: 22 April 2022 Jurisdiction: Equity - Real Property List Before: Black J Decision: Plaintiff's claim is dismissed. Parties to bring in agreed orders to give effect to this judgment and as to costs within 7 days. Catchwords: LAND LAW — Conveyancing — Contract for sale — Deposit — where deposit is secured by way of mortgage over another property — where the contract for sale is terminated by the purchaser in response to the vendor's purported notice of termination despite failing to have provided a land tax certificate MORTGAGES AND SECURITIES — Mortgages — Duties, rights and remedies of mortgagor — Repayment — whether the obligation to repay the mortgage is dependent on the deposit being owed under the contract ESTOPPEL — Estoppel by convention — Mutual assumption — whether an acknowledgement contained in the mortgage of receipt of a sum establishes an estoppel by convention Legislation Cited: Conveyancing Act 1919 (NSW), 52A(2)(b) Conveyancing (Sale of Land) Regulation 2017 (NSW), reg 6(1)(a)(ii), Sch 2 cl 3(2). Cases Cited: - Australian Broadcasting Commission v Australasian Performing Right Assn Ltd (1973) 129 CLR 99 - Botany Bay Apartments Pty Ltd v Badolato [2019] NSWSC 296 - Con-Stan Industries of Australia Pty Ltd v Norwich Winterthur Insurance (Australia) Ltd (1985) 160 CLR 226 - Electricity Generation Corporation (t/as Verve Energy) v Woodside Energy Ltd (2014) 251 CLR 640; 306 ALR 25; [2014] HCA 7 - Galafassi v Kelly (2014) 87 NSWLR 119; [2014] NSWCA 190 - Greer v Kettle [1938] AC 156 - Holland v Wiltshire (1954) 90 CLR 409 - Hong v Gui [2022] NSWSC 431 - K and K Real Estate Pty Ltd v Adellos Pty Ltd [2010] NSWCA 302 - Kannane v Demian Developments Pty Ltd (2005) 12 BPR 23,305 - Lavigne v Kumar [2020] NSWSWC 1120 - Price (as executor of the estate of Price (dec'd)) v Spoor (as trustee) (2021) 391 ALR 532; [2021] HCA 20 - Saravonovska v Saravonovski (No 6) [2016] NSWSC 964 - Saravinovski v Saravinovska [2017] NSWCA 85 - Shanemist Pty Ltd v Denmac Nominees Pty Ltd [2003] QSC 373 - Sydney Developments Pty Ltd v Perry Properties Pty Ltd (2018) 18 BPR 35,905 - Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd (2004) 219 CLR 165; 211 ALR 342; [2004] HCA 52 Category: Principal judgment Parties: ASIL Foundation (Lending) Pty Ltd (Plaintiff/Cross-Defendant) Blue Mountains Development Pty Ltd (Defendant/First Cross-Claimant) Orana Group Holdings Pty Ltd (Second Cross-Claimant) Representation: Counsel: D Allen (Plaintiff/Cross-Defendant) A Macauley (Defendant/First and Second Cross-Claimant)