Property Holdings Group Pty Ltd v Rosehill Panorama Pty Ltd (Administrators Appointed) (No 2) [2023] NSWSC 1624

Supreme Court New South Wales

Medium Neutral Citation: Property Holdings Group Pty Ltd v Rosehill Panorama Pty Ltd (Administrators Appointed) (No 2) [2023] NSWSC 1624 Hearing dates: On the papers Date of orders: 19 December 2023 Decision date: 19 December 2023 Jurisdiction: Equity Before: Robb J Decision: The Court: (1) Declares that the plaintiff has an equitable charge over the following properties: [Redacted] which secures the contingent liability of the first defendant to pay to the plaintiff an amount of money equal to the Development Fee following the performance by the first defendant of its covenants in the Deed of Assignment between the plaintiff and the first defendant dated 22 December 2014. (2) Otherwise dismisses the plaintiff's second further amended statement of claim. (3) Orders the first defendant to pay the plaintiff's costs of the proceedings. Catchwords: JUDGMENTS AND ORDERS — Effect of — Merger of causes of action — requirement for plaintiff to make an election between inconsistent remedies sought in the one proceedings — plaintiff seeks a declaration that it has a charge over the defendant's properties to secure the future payment of a contingent debt — plaintiff not presently entitled to an order for the judicial sale of the properties as the debt is not presently due — plaintiff found to be entitled to damages for breach by the defendant of a covenant to cause the happening of the contingency that would make the debt presently payable — orders made to give effect to principal judgment Cases Cited: Green v Duncan [2009] NSWSC 1080 Port of Melbourne Authority v Anshun (1981) 147 CLR 589; [1981] HCA 45 Property Holdings Group Pty Ltd v Rosehill Panorama Pty Ltd (Administrators Appointed) [2023] NSWSC 1492 Zhong v Lanbo Constructions Pty Ltd [2023] NSWSC 440 Category: Consequential orders Parties: Property Holdings Group Pty Ltd (Plaintiff) Rosehill Panorama Pty Ltd in its capacity as trustee of the Rosehill Panorama Unit Trust (First Defendant) Amal Security Services Pty Ltd (Fifth Defendant) Representation: Counsel: MW Young SC and JP Nathan (Plaintiff) DR Stack (First Defendant)