Golden Mile Property Investments Pty Ltd (in liq) v Cudgegong Australia Pty Ltd [2016] NSWCA 224

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Golden Mile Property Investments Pty Ltd (in liq) v Cudgegong Australia Pty Ltd [2016] NSWCA 224 Hearing dates: 16 May 2016 Decision date: 25 August 2016 Before: Basten JA at [1]; Meagher JA at [2]; Ward JA at [3] Decision: 1. Grant leave to appeal limited to grounds 2, 3 and 5 of the proposed grounds of appeal. 2. Direct that a further amended notice of appeal containing only those grounds be filed by the appellant within 7 days. 3. Dismiss the appeal with costs. Catchwords: REAL PROPERTY – compulsory acquisition of land – compensation – determination of entity with compensable interest in acquired land as between registered proprietor, mortgagor in default or incoming purchaser at date of compulsory acquisition

EQUITY – general principles – priority and notice – competition between interests of mortgagor and purchaser under uncompleted contract for the sale of land – whether mortgagor's interest subject to a properly exercised power of sale by mortgagee – whether breach of mortgagee's duty owed to mortgagor when exercising power of sale under s 420A of the Corporations Act 2001 (Cth) or general law duty Legislation Cited: Conveyancing Act 1919 (NSW), ss 23C, 54A, 111A Corporations Act 2001 (Cth), ss 420A(1)(a), 601AD(2), 601AH(2) Land Acquisition (Just Terms Compensation) Act 1991 (NSW), ss 4, 19, 20, 37 Land and Environment Court Act 1979 (NSW), ss 25(2), 57 Real Property Act 1900 (NSW), s 57(2)(b) Cases Cited: Baloglow v Konstantinidis [2001] NSWCA 451; (2001) 11 BPR 20,721 Cudgegong Australia Pty Ltd v Transport for NSW [2014] NSWLEC 19 Cudgegong Australia Pty Ltd v Transport for NSW (No 3) [2015] NSWLEC 185 Golden Mile Property Investments Pty Ltd (in liq) v Cudgegong Australia Pty Ltd [2015] NSWCA 100 Khoury v Khouri [2006] NSWCA 184; (2006) 66 NSWLR 241 Mainteck Services Pty Ltd v Stein Heurtey SA [2014] NSWCA 184; (2014) 89 NSWLR 633 Manks v Whiteley [1912] 1 Ch 735 Masters v Cameron [1954] HCA 72; (1954) 91 CLR 353 North Eastern Properties Ltd v Coleman [2010] 1 WLR 2715 O'Rourke v Hoeven [1974] 1 NSWLR 622 Powercell Pty Ltd v Cuzeno Pty Ltd [2004] NSWCA 51; (2004) 11 BPR 21,429 Re Piccolo: McVeigh v National Australia Bank Ltd [2000] FCA 187; (2000) 278 ALR 429 RIL Aviation HL 7740 and HL 7741 Pty Ltd v Alliance and Leicester plc [2011] NSWCA 423 Smith v Chadwick (1882) 20 Ch D 27 Category: Principal judgment Parties: Golden Mile Property Investments Pty Ltd (in liq) (Applicant) Cudgegong Australia Pty Ltd (First Respondent) Transport for NSW (Second Respondent) Representation: Counsel: M Hall SC with G Stapleton (Applicant) MW Young SC (First Respondent) Submitting appearance (Second Respondent)