National Australia Bank Limited v Said [2014] NSWSC 959

Supreme Court New South Wales

Medium Neutral Citation: National Australia Bank Limited v Said [2014] NSWSC 959 Hearing dates: 16 & 17 July 2014 Decision date: 22 July 2014 Before: Harrison J Decision: 1. Stay execution of the writ of possession issued by this Court to the plaintiff on 17 March 2014 until further order upon the conditions that: (a) the defendants within 7 days commence any such proceedings as they may be advised seeking specific performance or associated declarations or other relief with respect to an agreement said to have been made between them and the plaintiff for the discharge of their indebtedness to the plaintiff upon the payment of $1.75M; (b) Ms Said undertakes to the plaintiff and to the Court to prosecute such proceedings with all due despatch, including the making of an application for an expedited hearing; (c) pending the determination of the proceedings referred to in (a) above the defendants pay to the plaintiff within 7 days interest from 1 March 2014 to date calculated at Court rates upon so much of the sum of $1.75M as has not already been paid to the plaintiff; (d) the defendants continue to pay interest monthly upon so much of the sum of $1.75M as has not already been paid to the plaintiff from today until determination of the proceedings referred to in (a) above. 2. Order the defendants to pay the plaintiff's costs of this application. 3. Grant liberty to the parties to apply on 2 days' notice. Catchwords: REAL PROPERTY - possession of land - application for a stay of a writ of possession - dispute about formation and terms of settlement deed - whether in interests of justice to stay writ of possession so that dispute can be litigated Legislation Cited: Civil Procedure Act 2005 Category: Interlocutory applications Parties: National Australia Bank Limited (Plaintiff) Joseph Michael Said (First Defendant) Rita Juliana Said (Second Defendant) Representation: Solicitors: DibbsBarker (Plaintiff) Bechara & Co Lawyers (First and Second Defendants) File Number(s): 2011/352962 Publication restriction: Nil