Stone Leaf Capital Pty Ltd & Anor v Daly & Anor [2014] NSWSC 477

Supreme Court New South Wales

Medium Neutral Citation: Stone Leaf Capital Pty Ltd & Anor v Daly & Anor [2014] NSWSC 477 Hearing dates: 14 and 15 April 2014 Decision date: 15 April 2014 Jurisdiction: Equity Division Before: White J Decision: Refer to paras [65] and [67] of judgment. Catchwords: EQUITY - interests - priorities - whether the purchase price of property was for value - whether the second defendant had constructive notice of the plaintiffs' interest in the property - whether second defendant was required to investigate removal of caveats - plaintiffs engaged in postponing conduct - plaintiffs ordered to remove caveats - default judgment against first defendant - Real Property Act 1900 (NSW), ss 43A, 74A, 74MA Legislation Cited: Real Property Act 1900 (NSW) Cases Cited: Jones v Dunkel [1959] HCA 8; (1959) 101 CLR 298 Meriton Apartments v McLaurin & Tait (Developments) Pty Ltd (1976) 133 CLR 671 Jackson v Rowe (1826) 2 Sim & St 472; (1826) 57 ER 427 Baden v Société Générale pour Favoriser le Dévelopment du Commerce et de l'Industrie en France SA [1993] 1 WLR 509 Farah Constructions Pty Ltd v Say-Dee Pty Ltd [2007] HCA 22; (2007) 230 CLR 89 Barnes v Addy (1874) LR 9 Ch App 244 Re Montague Settlement Trusts [1987] Ch 264 Super 1000 v Pacific General Securities [2008] NSWSC 1222 Perpetual Trustee Company Limited; Performance Capital Mortgage Pty Limited v Motive Finance and Leasing Pty Limited [2010] NSWSC 429; (2010) 15 BPR 29,267 Elderly Citizens Homes of SA Inc v Balnaves (1998) 72 SASR 210 Barlin Investments Pty Limited v Westpac Banking Corporation [2012] NSWSC 699; (2012) BPR 30,671 Person-to-Person Financial Services Pty Limited v Sharari [1984] 1 NSWLR 745 Texts Cited: R P Meagher, J D Heydon & M J Leeming, Meagher, Gummow & Lehane's Equity: Doctrines & Remedies, 4th ed LexisNexis Butterworths Category: Principal judgment Parties: Stone Leaf Capital Pty Ltd (1st Plaintiff) Helen Frances Cacciola (2nd Plaintiff) Anthony John Daly (1st Defendant) Sutao Zhai (2nd Defendant) Representation: Counsel: M Springer, solicitor (Plaintiffs) A Norrie (2nd Defendant) Solicitors: Rostron Carlyle Solicitors (Plaintiffs) Maxim Legal (2nd Defendant) File Number(s): 2013/182751