Arkbay Investments Pty Ltd (in liquidation) (receivers and managers appointed) v Tripod Funds Management Pty Ltd [2014] NSWSC 1003

Supreme Court New South Wales

Medium Neutral Citation: Arkbay Investments Pty Ltd (in liquidation) (receivers and managers appointed) v Tripod Funds Management Pty Ltd [2014] NSWSC 1003 Hearing dates: 13 June 2014 Decision date: 29 July 2014 Jurisdiction: Equity Division Before: Robb J Decision: (1)Order pursuant to s 74P of the Real Property Act 1900 (NSW) that the defendant pay to the plaintiffs compensation in the amount of $40,815.53. (2)Order the defendant to pay the plaintiffs' costs of the proceedings. (3)Order for the return of exhibits and subpoenaed material as set out in par 36 of the reasons for judgment Catchwords: REAL PROPERTY - lodging of caveat without reasonable cause - compensation - whether purchaser would have been able to settle had caveat not been lodged Legislation Cited: Real Property Act 1900 (NSW) ss74P, 74MA Real Property Amendment Act 1996 (NSW) Cases Cited: Bedford Properties Pty Ltd v Surgo Pty Ltd [1981] 1 NSWLR 106 Beca Developments Pty Ltd v Idameneo (No 92) Pty Ltd (1990) 21 NSWLR 459 Collingridge v Sontor Pty Ltd (1997) 141 FLR 440 at 452 Lee v Ross (No 2) [2003] NSW SC 507 Truefilm Pty Ltd v J R Investment Holdings Pty Ltd [2004] NSW SC 372 Category: Principal judgment Parties: Arkbay Investments Pty Ltd (in liquidation) (receivers and managers appointed) (first plaintiff) McEvoy Street Alexandria Pty Ltd (in liquidation) (receivers and mangers appointed) (second plaintiff) Australian and New Zealand Banking Group Ltd (third plaintiff) Tripod Funds Management Pty Ltd (defendant) Representation: Counsel: R M Tyson (plaintiffs) D Allen (defendant) Solicitors: Allens Solicitors (first, second and third plaintiffs) Ronayne Lawyers (defendant) File Number(s): 2013/377318