Arkbay Investments Pty Limited (In Liquidation) (Receivers and Managers Appointed) v Echelon Property Management Pty Ltd (No 2) [2014] NSWSC 572

Supreme Court New South Wales

Medium Neutral Citation: Arkbay Investments Pty Limited (In Liquidation) (Receivers and Managers Appointed) v Echelon Property Management Pty Ltd (No 2) [2014] NSWSC 572 Hearing dates: 7 May 2014 Decision date: 07 May 2014 Jurisdiction: Equity Division Before: Brereton J Decision: (1) Judgment that the first defendant, Echelon Property Management Pty Limited, pay the plaintiffs the sum of $326,363.66 and interest calculated pursuant to the Civil Procedure Act, s 100, from 14 April to date. (2) Judgment that the first cross-defendant pay the cross-claimant sum of $189,484.14 plus interest calculated pursuant to Civil Procedure Act, s 100, from 14 April 2014 to date. (3) Order that the first defendant pay the plaintiffs' and the second and third defendants' costs of the proceedings on an indemnity basis. (4) Order that the first cross-defendant and the fourth cross-defendant pay the cross-claimant's costs of the cross-claim on an indemnity basis Catchwords: REAL PROPERTY - caveats - whether caveat lodged without reasonable cause - whether s 74P(1) extends to any person involved in the lodgment of a caveat and not only to the caveator - held, s 74P is intended to capture only the caveator who lodged a caveat - held, caveats lodged without proper cause - compensation - calculated and awarded Legislation Cited: (NSW) Real Property Act 1900, s 74F, 74P (NSW) Civil Procedure Act 2005, s 100 Cases Cited: Arkbay Investments Pty Limited v (In Liquidation) (Receivers and Managers Appointed) v Echelon Property Management Pty Ltd [2014] NSWSC 444 Beca Developments Proprietary Limited v Idameneo (No 92) Pty Ltd (1990) 21 NSWLR 459 Bedford Properties Proprietary Limited v Surgo Pty Ltd (1981) 1 NSWLR 106 Windlock Pty Ltd v Velibor Davidovic & Ors [2014] NSWSC 269 Category: Principal judgment Parties: Arkbay Investments Pty Limited (in liq) (first plaintiff) McEvoy Street Alexandria Pty Ltd (second plaintiff) Australian and New Zealand Banking Group Limited (third plaintiff) Echelon Property management Pty Ltd (first defendant) Alexandria 1 Pty Ltd (second defendant) Bilal El-Cheikh (third defendant) Representation: Counsel: M Tyson (plaintiffs) N Coburn (first defendant) G Moore (second and third defendants) Solicitors: Allens (plaintiffs) Cambridge Law (first defendant) Madison Marcus (second and third defendants) File Number(s): 2014/ 80714