Warner v Ulysius International Trading Pty Ltd [2011] NSWSC 329

Supreme Court New South Wales

Medium Neutral Citation: Warner v Ulysius International Trading Pty Ltd [2011] NSWSC 329 Hearing dates: 28, 29, 30 March and 7 April 2011 Decision date: 20 April 2011 Jurisdiction: Equity Division Before: Tamberlin AJ Decision: Direct the parties to bring in short minutes of order to give effect to the findings and reasons as set out in this judgment and dealing with costs and the cross-claims. Catchwords: EQUITY - lien - patent attorney's lien; nature and scope - possessory lien as passive right of retention which does not create charge on property - waiver of lien by subsequent loan agreement.

EQUITY - interests - agreement to create a charge constitutes a charge - priorities between equitable charges - intention of parties.

CORPORATIONS LAW - duty of liquidator to exercise reasonable care in power of sale - duty of liquidator to obtain best price reasonably obtainable. Legislation Cited: Corporations Act 2001 (Cth) Patents Act 1990 (Cth) Supreme Court Act 1970 (NSW) Cases Cited: Caruana v Port Macquarie-Hastings Council [2007] NSWLEC 109 Clifford Harris & Co v Solland International Ltd [2005] EWHC 141 (Ch); [2005] 2 All ER 334 Cordelia Holdings Pty Ltd v Newkey Investments Pty Ltd [2004] FCAFC 48 Ex parte Patience; Makinson v The Minister (1940) 40 SR(NSW) 96 Firth v CentreLink [2002] NSWSC 564; (2002) 55 NSWLR 451 Gartside v Silkstone and Dodworth Coal & Iron Company (1882) LR 21 Ch D 762 Gregory v Commissioner of Taxation of the Commonwealth of Australia [1971] HCA 2; (1971) 123 CLR 547 Lyddon v Moss (1859) 4 De G & J 104; 45 ER 41 McMillan v Dunoon [2005] VSC 440 MMAL Rentals Pty Ltd v Bruning [2004] NSWCA 451; (2004) 63 NSWLR 167 Re Universal Distributing Co Ltd (in liq) [1933] HCA 2; (1933) 48 CLR 171 Scammell & Co v Workcover Corporation [2006] SASC 258;(2006) 95 SASR 278 Shirlaw v Taylor (1991) 5 ACSR 767 Spencer v The Commonwealth [1907] HCA 82; (1907) 5 CLR 418 Texts Cited: Alan Hyam, The Law Affecting Valuation of Land in Australia, 4th ed 2009 Category: Principal judgment Parties: Anthony John Warner as Liquidator of Carl-Louis Pty Ltd (in liquidation) and as Receiver and Manager of the Foodpack Trust Unit Trust (First Plaintiff and First Cross-Defendant to First and Second Cross-Claims)