Kitanovski v Ibrahim [2022] NSWSC 1232

Supreme Court New South Wales

Medium Neutral Citation: Kitanovski v Ibrahim [2022] NSWSC 1232 Hearing dates: 5 September 2022 Date of orders: 14 September 2022 Decision date: 14 September 2022 Jurisdiction: Equity Before: Darke J Decision: Orders to be made for specific performance of a contract for the sale of land, together with orders for the withdrawal of caveats, subject to a condition that a sum of money be paid into Court. Catchwords: REAL PROPERTY – caveats – withdrawal of caveats – application pursuant to section 74MA of the Real Property Act 1900 (NSW) – where caveats preventing completion of a specifically enforceable contract for the sale of land – where the purchase price for the land is well below market value – where completion of the contract at the price listed would prejudice caveators' claimed charges over the vendor's land – whether there is a serious question to be tried with respect to caveators' claimed interests – whether balance of convenience favours continuation of the caveats – whether withdrawal of caveats should occur subject to a condition that the purchaser pay into Court the difference between the contract price and the market value of the property – held that caveats should be withdrawn subject to such a condition Legislation Cited: Real Property Act 1900 (NSW), s 74F, s 74MA Cases Cited: Bayblu Holdings Pty Ltd v Capital Finance Australia Ltd (2011) 15 BPR 29,055; [2011] NSWCA 39 Buchanan v Crown & Gleeson Business Finance Pty Ltd (2006) 13 BPR 24,513; [2006] NSWSC 1465 Hanson Construction Materials Pty Ltd v Roberts (2016) 93 NSWLR 1; [2016] NSWCA 240 Sutherland v Vale (2008) 14 BPR 26,255; [2008] NSWSC 759 Category: Principal judgment Parties: Mary Kitanovski (Plaintiff) Fadi Ibrahim (First Defendant) Jamelie Josephine Joan Lahood (Second Defendant) Commissioner of Taxation (Third Defendant) Representation: Counsel: Mr D W Robertson (Plaintiff) Mr P Horobin (First Defendant) Mr M J Smith (Third Defendant)