John Lawrence Meyers v John Frederick Lord & Anor [2006] NSWSC 1451

New South Wales Supreme Court

CITATION : John Lawrence Meyers v John Frederick Lord & Anor [2006] NSWSC 1451

HEARING DATE(S) : 07/12/06

JUDGMENT DATE : 7 December 2006

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : White J

EX TEMPORE JUDGMENT DATE : 12/07/2006

DECISION : See paras 27-31 of judgment.

CATCHWORDS : MORTGAGES – Mortgages and charges generally – Remedies of chargee – Power of sale – Mode of exercise of power – Injunctions to restrain sale – Application by plaintiff to restrain first defendant from exercising power of sale pursuant to charge – First defendant was deed administrator under deed of company arrangement – Deed of company arrangement provided for sale of a company's business and for the purchaser to grant a charge over its assets to secure payment of creditors under deed – First defendant took possession of charged assets – Whether charge secured any moneys – Challenge to mode of sale – No payment into Court – Whether damages an adequate remedy – Balance of convenience – Application for injunction refused.

LEGISLATION CITED : Corporations Act 2001 (Cth) Industrial Relations Act 1996 (NSW)

Harvey v McWatters (1948) 49 NSWSC 173 CASES CITED : Inglis v Commonwealth Trading Bank of Australia (1971) 126 CLR 161 Parist Holdings v Perpetual Nominees Limited [2006] NSWSC 599

John Lawrence Meyers PARTIES : v John Frederick Lord & Anor

FILE NUMBER(S) : SC 6188/06

Plaintiff: L Tyndall COUNSEL : Defendants: E Muston Liquidator: R Khoury