NSW Caselaw
New South Wales Supreme Court
CITATION : Nick Kardiasmenos v Pioneer Management Pty Limited & 3 Ors [2005] NSWSC 770
HEARING DATE(S) : 9, 23 June 2005
JUDGMENT DATE : 20 July 2005
JUDGMENT OF : Smart AJ at 1
DECISION : See para 73
CATCHWORDS : Plaintiff providing all the money for purchase of land for developmnent project of townhouses and villas with title vested in 1st Defendant - project fails - development not approved by Council and requisite finance unable to be raised - resulting trust and 1st defendant a bare trustee - venture held to be a partnership - Plaintiff held to have prior equitable interest - Priority not lost - 1st defendant executes mortgage of land but money received applied by 2nd defendant with knowledge of 4th defendant to advance interests of 2nd defendant and overseas venture - bankruptcy of 3rd defendant and all choses of action vested in trustee.
Bankruptcy Act Companies Act 1961 LEGISLATION CITED : Corporations Act Real Property Act s 74MA
Re Crest Realty Pty Ltd (In Liq) [1977] 1 NSWLR 664 Grossman v E Katz Manufacturing Lewellers (ACT) Pty Ltd [2004 NSWSC 1224 Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 CASES CITED : Re Suco Gold Pty Ltd (In Liq) 1983 33 SASR 99 Re Sutherland and French Caledonia Travel Service Pty Ltd (2003) 59 NSWLR Wells v Wily & Anor 50 ASCR 105
PARTIES : Nick Kardiasmenos v Pioneer Management Pty Limited & 3 Ors
FILE NUMBER(S) : SC 5469/02
Pltf unrepresented by counsel M B Duncan for 2nd & 4th defts Mr Vescio in person (3rd deft) COUNSEL :
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