Defined Properties Investment ATF the Defined Property Trust No.1 v National Commercial Finance Pty Ltd [2017] NSWSC 1513

Supreme Court New South Wales

Medium Neutral Citation: Defined Properties Investment ATF the Defined Property Trust No.1 v National Commercial Finance Pty Ltd [2017] NSWSC 1513 Hearing dates: 3 November 2017 Date of orders: 07 November 2017 Decision date: 07 November 2017 Jurisdiction: Common Law Before: Harrison J Decision: (1) Grant leave to the plaintiffs to file an amended summons by 10 November 2017 if so advised. (2) Direct the plaintiffs to file and serve such further evidence upon which they intend to rely by 10 November 2017. (3) Direct the defendant to file and serve such evidence upon which it intends to rely by 17 November 2017. (4) Order that the defendant, by itself its servants or agents or howsoever otherwise be restrained up to and including 5.00pm on Monday 20 November 2017 from exercising any purported power of sale over the property in Certificate of Title Folio Identifier 41/SP 77109 being the property known as and situate at A5/24-32 Lexington Drive, Bella Vista. (5) Stand over these proceedings before the Common Law Duty Judge on Monday 20 November 2017 (6) Reserve costs. Catchwords: PRACTICE AND PROCEDURE – where first plaintiff seeks time to refinance in order to avoid the forced sale of his property – where defendant opposes the current regime restraining the exercise of a purported power of sale of the property – whether first plaintiff is in a position to secure an alternative financier for the loan – where first plaintiff contends that the receiver was not properly appointed – where the debt owed to discharge the mortgage is in dispute Category: Procedural and other rulings Parties: Defined Properties Investment Pty Ltd (First Plaintiff) George Dimitriou (Second Plaintiff) National Commercial Finance Pty Ltd (Defendant) Representation: Counsel: S Sykes (Defendant)