Dean-Willcocks v Nothintoohard Pty Ltd [2005] NSWSC 357

Reported Decision : 53 ACSR 587

New South Wales Supreme Court

CITATION : Dean-Willcocks v Nothintoohard Pty Ltd [2005] NSWSC 357

HEARING DATE(S) : 13/04/05

JUDGMENT DATE : 19 April 2005

Equity Division JURISDICTION : Corporations List

JUDGMENT OF : Barrett J

DECISION : Amended originating process dismissed with costs

CATCHWORDS : CORPORATIONS - receivers managers and controllers - receiver appointed under security out of court - receiver claims equitable lien for remuneration costs and expenses - whether principles applicable to court appointed receivers and other officials apply to receivers appointed out of court - MORTGAGES - priority of estates debts and encumbrances - whether equitable lien of receiver may attain priority over registered first mortgage of land - whether first mortgagee's interest postponed by agreement - EQUITY - unjust enrichment - whether incontrovertible benefit to land through receiver's expenditure may make unconscionable unqualified resort by legal mortgagee to power of sale

Australian Securities and Investments Commission v Lawrenson (1999) 33 ACSR 288 Choudhri v Palta [1994] 1 BCLC 184 Hewett v Court (1983) 149 CLR 639 Monks v Poynice Pty Ltd (1987) 11 ACLR 637 Moodemere Pty Ltd v Waters [1988] VR 215 Partridge v McIntosh & Sons Ltd (1933) 49 CLR 453 Pattison v Lockwood (unreported, FCA, 30 April 1998) CASES CITED : Re Berkeley Applegate (Investment Consultants) Ltd; Harris v Conway [1989] Ch 32 Re Universal Distributing Co Ltd (1933) 48 CLR 171 Scott v Nesbitt (1808) 14 Ves 438 Shawyer v Amberday Pty Ltd (2001) 11 BPR 18,869 Shirlaw v Taylor (1991) 31 FCR 222 Weston v Carling Construction Pty Ltd (2000) 175 ALR 202 Westpac Banking Corporation v ITS Taxation Services Pty Ltd (2004) 183 FLR 273 Young v ACN 081 162 512 Pty Ltd [2005] NSWSC 139