Maviglia Investments Pty Limited (as trustee for the Maviglia Family Trust) v BKSL Investments Pty Ltd (in liq) & Ors [2017] NSWSC 490

Supreme Court New South Wales

Medium Neutral Citation: Maviglia Investments Pty Limited (as trustee for the Maviglia Family Trust) v BKSL Investments Pty Ltd (in liq) & Ors [2017] NSWSC 490 Hearing dates: 12 April 2017 Date of orders: 01 May 2017 Decision date: 01 May 2017 Jurisdiction: Equity Before: Slattery J Decision: Application for interlocutory relief dismissed. Directions given to prepare for the hearing as to final relief. Catchwords: MORTGAGE – Torrens title land – default by mortgagor – mortgagee in possession – mortgagee seeks to exercise power of sale – land alleged to be held in trust – new trustee appointed – new trustee seeks mortgagee's agreement to new trustee becoming registered proprietor new trustee seeks to have control of the sale of the land. Legislation Cited: Conveyancing Act 1919, s 129 Payroll Tax Act 2007, ss 72, 74 Real Property Act 1900, ss 58, 60 Cases Cited: Barton Thompson & Co Limited v Stapling Machines Ltd [1966] Ch 499 Bayblu Holdings Pty Limited v Capital Finance Australia Ltd (2011) 279 ALR 166 Clarke v Japan Machines (Australia) Pty Limited (No. 2) (1984) 1 Qd R 421 Dimos v Dikeakos Nominees Pty Limited (1996) 68 FCR 39 Forsyth v Blundell (1973) 129 CLR 477 Hallifax Property Corporation Pty Limited v GIFC Limited (1987) 4 BPR 9708 Harvey v McWatters (1948) 49 SR NSW 173 Henry Roach (Petroleum) Pty Limited v Credit House (Vic) Pty Limited [1976] VR 309 Hickson v Darlow (1883) 23 Ch D 690 Inglis v Commonwealth Trading Bank of Australia (1972) 126 CLR 161 Macleod v Jones (1883) 24 Ch D 289 Morton v Suncorp Finance Ltd (1987) 8 NSWLR 325 Parist Holdings Pty Limited v Perpetual Nominees Limited (2006) NSW ConvR 56 – 161 Shercliff v Engadine Acceptance Corp Pty Ltd [1978] 1 NSWLR 729 Shiloh Spinners Ltd v Harding [1973] AC 691 Tannock v North Queensland Securities [1932] St R Qd 285 Texts Cited: E L G Tyler, P W Young and C E Croft, Fisher and Lightwood's Law of Mortgages (LexisNexis Butterworths, 3rd Australian Edition, 2014) JD Heydon, MJ Leeming and PG Turner, Meagher, Gummow & Lehane's Equity: Doctrines & Remedies (LexisNexis Butterworths, 5th ed, 2014) Category: Procedural and other rulings Parties: Plaintiff: Maviglia Investments Pty Limited ACN 603 362 063 (as trustee for the Maviglia Family Trust) First Defendant: BKSL Investments Pty Ltd ACN 131 492 905 (in liquidation) Second Defendant: Michael John Morris Smith (in his capacity as liquidator of the first defendant) Third Defendant: Perpetual Limited trading as Perpetual Trustees Australia Representation: Counsel: