Capital Finance Australia Ltd v Karabassis & Ors [2003] NSWSC 737

New South Wales Supreme Court

CITATION : Capital Finance Australia Ltd v Karabassis & Ors [2003] NSWSC 737 HEARING DATE(S) : 08/08/03 JUDGMENT DATE : 12 August 2003

JUDGMENT OF : Gzell J DECISION : Order that operation of caveats be extended until determination of proceedings or further order

CATCHWORDS : CONVEYANCING - LAND TITLES UNDER THE TORRENS SYSTEM - Caveats against Dealings - Equitable mortgages claimed by plaintiff - Whether plaintiff as undisclosed principal could sue on provision in gaurantee to give a legal mortgage - Whether evidence necessary of approval of guarantee form by principal - Whether description in caveat as equitable mortgagee was accurate - Whether undisclosed principal may enforce proprietary rights - Whether provision appointing attorney to perfect legal mortgage ousts entitlement to sue for legal mortgage LEGISLATION CITED : Real Property Act 1900 Siu Yin Kwan v Eastern Insurance Co Ltd [1994] 2 AC 199 Keighley, Maxsted & Co v Durant [1901] AC 240 Garrett v Handley (1825) 4 B & C 664 (107 ER 1208) Re Caveat of Clara Elizabeth Dixon (1922) 39 WN (NSW) 89 Bridge Wholesale Acceptance Corporation (Australia) Ltd v Burnard (1992) 27 NSWLR 415 Composite Buyers Ltd v Soong (1995) 38 NSWLR 286 CASES CITED : Murphy v Wright (1992) 5 BPR 11,734 J & H Just (Holdings) Pty Ltd v Bank of New South Wales (1971) 125 CLR 546 Troncone v Aliperti (1994) 6 BPR 13,291 Burns Philp Trustee Co Ltd v Viney [1981] 2 NSWLR 216 Dyster v Randall & Sons [1926] Ch 932 Maynegrain Pty Ltd v Compafina Bank [1982] 2 NSWLR 141 O'Donovan and Phillips, The Modern Contract of Guarantee, 3rd ed, LBC Information Services, Sydney, 1996 Bowstead and Reynolds on Agency, 17th ed, Sweet & Maxwell, London, 2001 Capital Finance Australia Ltd - Plaintiff George Karabassis - 1st Defendant PARTIES : Gabriel Jim - 2nd Defendant Daniel Cheng - 3rd Defendant