Biseja Pty Ltd v NSI Goup Pty Ltd [2006] NSWSC 1331

New South Wales Supreme Court

CITATION : Biseja Pty Ltd v NSI Goup Pty Ltd [2006] NSWSC 1331

HEARING DATE(S) : 21/09/06 JURISDICTION : Equity

JUDGMENT OF : Brereton J

EX TEMPORE JUDGMENT DATE : 09/22/2006

DECISION : Order that caveats be withdrawn. Leave to lodge further caveats following registration of mortgage to refinancier

CATCHWORDS : REAL PROPERTY – Land under Torrens Title – Caveats – Balance of convenience – Relevance of agreement between parties - refinancing

LEGISLATION CITED : Real Property Act 1900 (NSW), ss 74MA, 74O

CASES CITED : Australian Property & Management Pty Ltd v Devefi Pty Ltd (1997) 7 BPR 15,255 Depsun Pty Ltd v Tahore Holdings Pty Ltd (1990) 5 BPR 11,314

PARTIES : Biseja Pty Ltd (plaintiff) NSI Goup Pty Ltd (defendant)

FILE NUMBER(S) : SC 2969/06

COUNSEL : M Willmott SC w M Sneddon (plaintiff) G Moore w F Hicks (defendant)

SOLICITORS : L Capolupo & Co, Solicitors (plaintiff) William Costis & Associates (defendant)

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION DUTY LIST

BRERETON J

Friday 22 September 2006

2969/06 Biseja Pty Limited v NSI Group Pty Limited JUDGMENT (Ex tempore) 1 HIS HONOUR: The applicant Biseja Pty Limited seeks an order pursuant to Real Property Act 1900 (NSW), s 74MA, that the respondent NSI Group Pty Limited withdraw three caveats lodged in respect of three lots in a Strata Plan which relates to a development of land of which Biseja is the registered proprietor - namely, Lots 79, 80 and 81 in SP 70843. NSI asserts that it was engaged by Biseja under a project management agreement to manage the development, and that under that agreement it is entitled to receive, as at least part of its remuneration, the three lots in lieu of a monetary sum for project management fees.