Bevillesta Pty Limited v Perpetual Nominees Ltd & Ors [2010] NSWSC 839

New South Wales Supreme Court

CITATION : Bevillesta Pty Limited v Perpetual Nominees Ltd & Ors [2010] NSWSC 839

HEARING DATE(S) : 27 July 2010

JUDGMENT DATE : 30 July 2010

JUDGMENT OF : Ball J

1. An order that, until further order, the first, second, third, fourth and fifth defendants, by themselves, their servants or agents be restrained from asserting or enforcing any alleged rights arising from the alleged breach of the Syndicated Loan Agreement between the plaintiff and the defendants dated 24 June 2007 as amended (the Facility) or any related documents as a result of, or in reliance on, the notice from the fourth defendant dated 7 July 2010. 2. The order referred to in paragraph 1 is conditional on: DECISION : (a) the plaintiff giving the usual undertaking as to damages; (b) the plaintiff making an application for expedition of the hearing of these proceedings and complying with any timetable fixed by the court for the preparation of the case for hearing. 3. Liberty to apply on three days' notice.

CATCHWORDS : PRACTICE AND PROCEDURE - interlocutory injunctions - serious question - whether valuation certificate is conclusive of value of property under loan agreement and mortgages - balance of convenience

CATEGORY : Procedural and other rulings

Clarke v Japan Machines (Australia) Pty Ltd (No 2) [1984] 1 Qd R 421 Ellison v Alliance Acceptance Ltd (1984) NSW ConvR 55-217 CASES CITED : Harvey v McWatters (1948) 49 SR (NSW) 173 at 178 Inglis v Commonwealth Trading Bank of Australia (1972) 126 CLR 161 National Australia Bank Ltd v Sampson (No 2) (1991) 11 BPR 21513 Shomat Pty Ltd v Rubinstein (1995) 124 FLR 284