Sydney Markets Credit Services Co-operative Limited ABN 67503292864 v Barry Anthony Taylor as Trustee of the Bankrupt Estate of Natale Piscuineri; A.C.N 123849883 Pty Limited v Sydney Market Credit Services Co-Operative Limited [2014] NSWSC 754

Supreme Court New South Wales

Medium Neutral Citation: Sydney Markets Credit Services Co-operative Limited ABN 67503292864 v Barry Anthony Taylor as Trustee of the Bankrupt Estate of Natale Piscuineri; A.C.N 123849883 Pty Limited v Sydney Market Credit Services Co-Operative Limited [2014] NSWSC 754 Hearing dates: 10 & 11 March 2014; final written submissions 1 April 2014. Decision date: 13 June 2014 Jurisdiction: Equity Division Before: Slattery J Decision: All factual findings made. Directions given in relation to supplementary submissions of law. Catchwords: REAL PROPERTY - Torrens title - caveats against dealings - lapsing notice served under Real Property Act, s 74J - operation of caveat extended under Real Property Act, s 74K(2) - caveat claims an equitable charge over land under a guarantee - whether the land is owned beneficially by the registered proprietors - whether the registered proprietors hold the land on trust for a family superannuation fund.

MORTGAGES - mortgages and charges generally - priority of estates, debts and encumbrances - whether land purchased by the trustee of a superannuation fund - whether equitable interest claimed by the superannuation fund takes priority over an interest by way of charge created for the benefit of a creditor of a trustee. Legislation Cited: Real Property Act 1900, ss 74F, 74J, 74K(2), 82(1) Superannuation Industry (Supervision) Act 1993, s 17A Superannuation Industry (Supervision) Regulations 1994, r 13.14 Category: Principal judgment Parties: (2012/275063) Plaintiff: A.C.N. 123 849 883 Pty Limited First Defendant: Barry Taylor as trustee of the bankrupt estate of Natale Pisciuneri Second Defendant: Ferdinando Pisciuneri (estate of the late Ferdinando Pisciuneri) Third Defendant: Sydney Markets Credit Services Co-Operative Limited