Coast Reo Pty Limited v O'Brien & (2) Ors [2006] NSWSC 1098

New South Wales Supreme Court

CITATION : Coast Reo Pty Limited v O'Brien & (2) Ors [2006] NSWSC 1098

HEARING DATE(S) : 17 October 2006

JUDGMENT DATE : 17 October 2006

JURISDICTION : EQUITY DIVISION

JUDGMENT OF : Lloyd AJ

EX TEMPORE JUDGMENT DATE : 10/17/2006

DECISION : 1. A declaration that the Plaintiff has a caveatable interest in the First Defendant's interest in Folio Identifier 14/SP73420 and Folio Identifier 5/13304 ("the property"). 2. Judgment for the Plaintiff in the sum of $330,125.95. 3. Interest pursuant to clause (i) of the agreement between the Plaintiff and the First Defendant dated on or about 10 August 2003. 4. In the alternative to 4 above, interest pursuant to section 100 of the Civil Procedure Act 2005. 5. An order that Messrs Scott Darren Pascoe and Alan Hayes of Sims Partners, Level 24, 264 George Street, Sydney be appointed trustees of the property. 6. An order that the said property be vested in the trustees subject to any encumbrances affecting the entirety of the property to be held by the trustees upon trust for sale. 7. An order that the trustees pay out the proceeds of sale: - a) Council rates, Water rates, Vendor's Duty, Land Tax and any other statutory duties or charges if any. b) The real estate agent's commission and charges. c) The Trustees' costs and charges. d) The amounts owing to any person having a secured interest save the Plaintiff. e) Account to the Second and Third Defendants for their portion of the balance. f) From the First Defendant's portion of the balance the amount of the Judgment together with interest and costs. g) Balance to the First Defendant. 8. Costs for the Plaintiff as agreed or failing agreement as assessed. 9. These orders be stayed for twenty eight days. 10. The exhibits may be returned after twenty eight days.