NSW Caselaw
New South Wales Supreme Court
CITATION : IMB Limited v Nallathambi & Anor [2009] NSWSC 1387 This decision has been amended. Please see the end of the judgment for a list of the amendments.
HEARING DATE(S) : 8-9 October & 8 December 2009 JURISDICTION : Equity
JUDGMENT OF : Slattery J at 1
EX TEMPORE JUDGMENT DATE : 8 December 2009
DECISION : Order the funds that were paid into court on or about 1 June 2009 and 3 July 2009 totalling the sum of $137,261.27 together with any interest accrued thereon be paid out of court to the applicant Booksan Pty Ltd.
CATCHWORDS : MORTGAGES - mortgages and charges generally - first mortgagee exercises power of sale - pays surplus proceeds into Court - second mortgagee applies for payment of surplus funds out of court - matters to be established - no competing claims - entitlement to funds made out - order for payment out made
LEGISLATION CITED : Real Property Act 1900 (NSW) s 58 Trustee Act 1925 (NSW) ss 95, 98
CATEGORY : Principal judgment
CASES CITED : AVCO Financial Services Limited v Commonwealth Bank of Australia (1989) 17 NSWLR 679
Plaintiff: IMB Limited First Defendant: Pappathevar Nallathambi Second Defendant: Parameswari Nallathambi PARTIES : Applicant on the Motion: Booksan Pty Limited First Respondent: Australian Securities and Investment Commission Second Respondent: Perpetual Nominees Ltd Third Respondent: Vertzayas Lawyers Pty Ltd formerly known as Hellas Income Tax Consulting Services Pty Ltd
FILE NUMBER(S) : SC 3044/09
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