Coast Reo Pty Ltd v O’Brien & Ors [2006] NSWSC 613

New South Wales Supreme Court

CITATION : Coast Reo Pty Ltd v O'Brien & Ors [2006] NSWSC 613

HEARING DATE(S) : 15 June 2006

JUDGMENT DATE : 15 June 2006

JURISDICTION : Equity Division

JUDGMENT OF : Palmer J

EX TEMPORE JUDGMENT DATE : 06/15/2006

DECISION : Leave to lodge further caveats granted.

CATCHWORDS : CAVEATS – whether caveatable interest created by Credit Agreement – whether caveat bad in form – whether leave should be granted to lodge further caveat under s.74O(2) of the Real Property Act.

LEGISLATION CITED : Real Property Act 1900 (NSW) – S.74O(2)

Coast Reo Pty Ltd – Plaintiff PARTIES : Robert O'Brien – First Defendant Joanne Therese O'Brien – Second Defendant Ricki Craig O'Brien – Third Defendant

FILE NUMBER(S) : SC 3179/06

COUNSEL : D.J. Durston – Plaintiff M.W. Young – Defendants

SOLICITORS : Peninsula Law – Plaintiff Streeter Commercial Lawyers – Defendants

JUDGMENT – Ex tempore 15 June, 2006

1 This is an application by the Plaintiff to extend the operation of two caveats lodged over real estate owned by the First Defendant, Mr Robert O'Brien. The caveats were lodged pursuant to a charging clause contained in a Commercial Credit Facility and Supply Agreement between the Plaintiff and Allcoast Linings Pty Limited, of which company Mr O'Brien is, or was, a director. The relevant provisions of the Agreement are as follows. 2 The Agreement is described as being made between the Plaintiff and a company or other entity to be named. Clause 2 of the document describes the "company or corporation" as Allcoast Linings Pty Limited. Clause 4 provides as follows: "Particulars of all parties to this Facility are required below. Full Names of Addresses of the Directors / Partners / Sole Traders."