In the matter of Cardinia Nominees Pty Ltd [2013] NSWSC 32

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Cardinia Nominees Pty Ltd [2013] NSWSC 32 Hearing dates: 29 January 2013 Decision date: 01 February 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: The registration time for the security interests granted to the Plaintiff to be fixed pursuant to s 588FM Corporations Act (Cth) as 7 September 2012, subject to specified terms. Catchwords: CORPORATIONS - Registration time for security interests - Application under Corporations Act 2001 (Cth) s 588FM(1) to fix registration time for security interests registered in the register established under the Personal Property Securities Act 2009 (Cth) - Whether failure to register security interest was accidental or due to inadvertence - Relevance of financial position of company granting security interest. Legislation Cited: - Corporations Act 2001 (Cth) ss 263, 266, 266(4), 436A, 436B, 436C, 588FL, 588FL(2), 588FL(2)(b)(ii), 588FL(2)(b)(iv), 588FL(4), 588FL(7), 588FM, 588FM(2), 588FM(3) Personal Property Securities Act 2009 (Cth) s 267 Personal Property Securities (Corporations and Other Amendments) Act 2010 (Cth) Cases Cited: - Bevillesta Pty Ltd v Imagine Un Ltd [2009] VSC 50; (2009) 69 ACSR 574 - Dempsey Resources Pty Ltd v Continental Coal Ltd [2009] FCA 1157 - Queensland Company Credit Union v Na-Kuraga Ltd [2005] QSC 149; (2005) 55 ACSR 219 - Metcash Trading Ltd v 8 Nai Investments Pty Ltd [2011] FCA 1400 National Australia Bank Limited v Davis & Waddell (Vic) Pty Ltd [2003] VSC 1; (2003) 44 ACSR 296 - Re Barclays Bank Plc [2012] NSWSC 1095 - Re Flinders Trading Co Pty Ltd (1978) 20 SASR 14; (1978) 3 ACLR 218 - Re Guardian Securities Ltd [1984] 1 NSWLR 95; (1984) 8 ACLR 822 - Re Kris Cruisers Ltd [1949] 1 Ch 138; [1948] 2 All ER 1105 - Sanwa Australia Finance Ltd v Ground-Breakers Pty Ltd (in liq) [1991] 2 Qd R 456; (1990) 2 ACSR 692 Category: Principal judgment Parties: Cardinia Nominees Pty Limited (Plaintiff) Inika Pty Limited (Defendant) Representation: Counsel: A.J. Abadee (Plaintiff) Solicitors: Judd Commercial Lawyers File Number(s): 2012/394886