Australia & New Zealand Banking Group v Webb & Ors [2011] NSWSC 1590

Supreme Court New South Wales

Medium Neutral Citation: Australia & New Zealand Banking Group v Webb & Ors [2011] NSWSC 1590 Hearing dates: Tuesday, 29 November 2011 Decision date: 29 November 2011 Jurisdiction: Equity Division - Duty List Before: White J Decision: Refer to paras [19] and [20] of judgment. Catchwords: INJUNCTIONS - interlocutory injunction - application for ex parte injunction restraining exercise of mortgagee's power of sale - where no dispute that power of sale arisen - where contended mortgagee is not exercising power of sale in good faith - general approach reconsidered in Bayblu Holdings Pty Ltd v Capital Finance Australia Ltd [2011] NSWCA 39 - serious question to be tried as to whether bank acting in good faith in seeking to exercise power of sale over family home where other properties secured to bank sufficient to discharge debts - balance of convenience favours restraint on exercise of mortgagee's power of sale - injunction granted Cases Cited: Bayblu Holdings Pty Ltd v Capital Finance Australia Limited [2011] NSWCA 39; (2011) 279 ALR 166; (2011) 15 BPR 29,055 Solid Holdings v IMFML Finance Pty Ltd [2008] NSWSC 573 Maytom v Perpetual Trustees Victoria [2010] NSWSC 765 Inglis v Commonwealth Trading Bank of Australia [1972] HCA 74; (1972) 126 CLR 161 MBF Investments Pty Ltd v Nolan [2011] VSCA 114 Category: Interlocutory applications Parties: Australia & New Zealand Banking Group (Plaintiff) Ivan John Webb (1st Defendant) Elaine Therese Webb (2nd Defendant) Benjamin Michael Webb (3rd Defendant) Portion Pty Ltd (In Liquidation) Representation: Ex parte (Plaintiff) In person (3rd Defendant) Blake Dawson (Plaintiff) N/a (Defendants) File Number(s): 2009/292057