Australian Lending and Finance Pty Ltd (in liq) v Daoud [2024] NSWSC 1014

Supreme Court New South Wales

Medium Neutral Citation: Australian Lending and Finance Pty Ltd (in liq) v Daoud [2024] NSWSC 1014 Hearing dates: 9 August 2024 Date of orders: 14 August 2024 Decision date: 14 August 2024 Jurisdiction: Equity Before: Pike J Decision: (1) Declare that the plaintiff's interest in the property known as 95 Rex Road, Georges Hall, NSW, 2198 (Lot 802 in Deposited Plan 1059065) has priority to the interest of the third defendant and any other person or entity who claims an equitable interest in that property. (2) Order that a copy of these orders and reasons for judgment be served by the plaintiff on each of Gebraad Pty Ltd, Omar Mohamad El Chami and Business Fuel (Cash Advance) Pty Ltd. (3) Order that any application by any of Gebraad Pty Ltd, Omar Mohamad El Chami or Business Fuel (Cash Advance) Pty Ltd to set aside or vary these orders be filed (with a copy provided to the chambers of Pike J) by 4pm on 11 September 2024. (4) Order that if no application to set aside or vary these orders is filed by 4pm on 11 September 2024, the monies paid into Court be paid out to the plaintiff. (5) Order that there be no further order as to costs with the intent that, to the extent not previously ordered, each party pay their own costs of the proceedings. Catchwords: EQUITY – equitable interests in property – priority of interests – where net sale proceeds from sale of property paid into Court – whether plaintiff's rights or interest had merged with earlier orders of the Court after entry into a deed of settlement – where plaintiff's interest first in time prevails Legislation Cited: Civil Procedure Act 2005 (NSW) s 98 Real Property Act 1900 (NSW) s 57 Cases Cited: Applications of Bizcap AU Pty Ltd; Applications of Hengyi Zhao, Applications of FundIT Ltd [2024] NSWSC 588 Australian Capital Financial Management Pty Ltd v Linfield Developments Pty Ltd [2017] NSWCA 99 Avco Financial Services Ltd v Fishman [1993] 1 VR 90 Dwyer v Caird (1888) 9 LR (NSW) 119 Texts Cited: Nil Category: Principal judgment Parties: Australian Lending and Finance Pty Ltd (Plaintiff) George Daoud (First Defendant) Rita Daoud (Second Defendant) Thunwarat Rattanachatwijit (Third Defendant) Adbri Masonry Pty Ltd (Fourth Defendant) Hy-Tec Industries Pty Ltd (Fifth Defendant) DebtCo Pty Ltd (Sixth Defendant) Representation: Counsel: R Notley (Plaintiff) S Fisher (Sixth Defendant)