Marsden v DCL Developments Pty Ltd (Receivers and Managers appointed) [2016] NSWSC 823

Supreme Court New South Wales

Medium Neutral Citation: Marsden v DCL Developments Pty Ltd (Receivers and Managers appointed) [2016] NSWSC 823 Hearing dates: 14, 15, 16, 20 June 2016 Date of orders: 20 June 2016 Decision date: 20 June 2016 Before: McCallum J Decision: Defendants' application for injunctive relief to restrain receivers granted; plaintiffs to be heard as to form of orders Catchwords: POSSESSION – where receivers appointed – proposed cross-claim alleging unconscionable conduct on the part of the lender – application for interlocutory injunction to restrain receiver from acting – whether serious question to be tried for relief under the ASIC Act – egg farm – need to replace spent birds – whether egg farmer placed in position of special disadvantage by combination of circumstances – evidence suggesting extraneous motive for imposing additional conditions on the loan so as to get borrower "off the books" – balance of convenience favouring existing arrangements pending final hearing Legislation Cited: Australian Securities and Investments Commission Act 2001; s 12CB(1) Cases Cited: Liristis v Bank of Western Australia [2002] NSWSC 1119 Tonto Home Loans Australia Pty Ltd v Tavares [2011] NSWCA 389 ACCC v Samton Holdings Pty Ltd [2002] FCA 62; (2002) 117 FCR 301 Category: Procedural and other rulings Parties: Peter William Marsden (in his capacity as Joint & Several Receiver and Manager of DCL Developments CAN 068 138 643 (Receivers and Managers appointed) (First Plaintiff) Richard Andrew Stone (in his capacity as as Joint & Several Receiver and Manager of DCL Developments CAN 068 138 643 (Receivers and Managers appointed) (Second Plaintiff) Andrew Bowcher (in his capacity as Joint & Several Receiver and Manager of DCL Developments CAN 068 138 643 (Receivers and Managers appointed) (Third Plaintiff)