AB Developments (Australia) Pty Ltd v El-Sayed [2016] NSWSC 1613

Supreme Court New South Wales

Medium Neutral Citation: AB Developments (Australia) Pty Ltd v El-Sayed [2016] NSWSC 1613 Hearing dates: 7 to 9 November 2016 Date of orders: 17 November 2016 Decision date: 17 November 2016 Jurisdiction: Common Law Before: Beech-Jones J Decision: (1) Judgment for the Defendant against the First Plaintiff. (2) Judgment for the Defendant against the Second Plaintiff. (3) The proceedings stand over to 9.30am on 29 November 2016 before Beech-Jones J for mention. Catchwords: Loan advance – subrogation – defendant's father approached second plaintiff seeking funds to discharge security over defendant's property – source of funds was second plaintiff's cousin – funds advanced – funds used to discharge security – whether second plaintiff loaned funds to defendant – whether second plaintiff subrogated to rights of creditor – found that cousin lent funds to defendant's father – subrogation claim fails Cases Cited: Bofinger v Kingsway Group Ltd (2009) 239 CLR 269 Challenger Managed Investments Ltd v Direct Money Corporation Pty Ltd (2003) 59 NSWLR 452 Circuit Finance Australia Limited (Receivers and Managers appointed) (in liquidation) v Panella & Anor [2011] NSWSC 311 Cochrane v Cochrane (1985) 3 NSWLR 403 Fox v Percy [2003] HCA 22; 214 CLR 118 Re Cleadon Trust Ltd [1939] Ch 286 Texts Cited: Equity Doctrines & Remedies, 4th ed, pp 358-9 Category: Principal judgment Parties: AB Developments (Australia) Pty Ltd (First Plaintiff) Abdul Hamdan (Second Plaintiff) Ahmed El-Sayed (Defendant) Representation: Counsel: A Duc (Plaintiffs) P Barham (Defendant)