Beefeater Sales International Pty Ltd v MIS Funding No 1 Pty Ltd [2016] NSWCA 217

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Beefeater Sales International Pty Ltd v MIS Funding No 1 Pty Ltd [2016] NSWCA 217 Hearing dates: 5 May 2016 Date of orders: 22 August 2016 Decision date: 22 August 2016 Before: Bathurst CJ at [1]; Gleeson JA at [110]; Payne JA at [111] Decision: Appeal dismissed with costs Catchwords: CONTRACTS – construction – loan agreement as part of managed investment scheme – whether advancement of funds authorised by loan agreement – whether payment for "Hectares" pursuant to loan agreement required transfer of interest in land

CONTRACTS – loan agreement – whether funds in fact advanced – whether assignee of lender entitled to issue Dobbs certificate Legislation Cited: Conveyancing Act 1919 (NSW), s 163 Corporations Act 2001 (Cth), s 9 Income Tax Assessment Act 1997 (Cth), s 8-1 Cases Cited: Australian Softwood Forests Proprietary Limited v Attorney General for the State of New South Wales [1980] HCA 49; 148 CLR 121 Dobbs v National Bank of Australia Limited [1935] HCA 49; 53 CLR 643 Electricity Generation Corporation v Woodside Energy Ltd [2014] HCA 7; 251 CLR 640 G L Nederland (Asia) Pty Ltd v Expertise Events Pty Ltd [1999] NSWCA 62 Mount Bruce Mining Pty Ltd v Wright Prospecting Pty Ltd [2015] HCA 37; 256 CLR 104 National Australia Bank v Sampson (Supreme Court (NSW), Young J, 9 September 1991, unrep) Norman v Federal Commissioner of Taxation [1962] HCA 21; 109 CLR 9 Rava v Logan Wines Pty Ltd [2007] NSWCA 62 Shomat Pty Ltd v Rubinstein (1995) 124 FLR 284 Victoria v Tatts Group Ltd [2016] HCA 5; 90 ALJR 392 Water Board v Moustakas [1988] HCA 12; 180 CLR 491 Whisprun Pty Ltd v Dixon [2003] HCA 48; 200 ALR 447 Texts Cited: J D Heydon, M J Leeming and P G Turner, Meagher, Gummow & Lehane's Equity: Doctrine & Remedies (5th ed 2015, LexisNexis) Category: Principal judgment Parties: Beefeater Sales International Pty Limited (First Appellant) Representation: Counsel: A J Sullivan QC / J S Emmett (Appellants) P D Crutchfield QC / D C Price (Respondent)