In the matter of Club Capitol Pty Ltd and the other named parties in schedules A and B to the originating process [2018] NSWSC 398

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Club Capitol Pty Ltd and the other named parties in schedules A and B to the originating process [2018] NSWSC 398 Hearing dates: 12 March 2018 Date of orders: 12 March 2018 Decision date: 12 March 2018 Jurisdiction: Equity - Corporations List Before: Rein J Decision: See [13], [16] - [18] Catchwords: SECURITIES – personal property – registration – priority – purchase money security interest – failure to register interests with correct details within 15-day period due to inadvertence – extension sought in circumstances where one grantor corporation has gone into administration – no appearance by any party whose interests may be affected by the granting of an extension. Legislation Cited: Corporations Act 2001 (Cth) Personal Property Securities Act 2009 (Cth) Cases Cited: In the matter of Accolade Wines Australia Limited and other companies [2016] NSWSC 1023 In the matter of Appleyard Capital Pty Limited; 123 Sweden AB v Appleyard Capital Pty Limited (2014) 101 ACSR 629; [2014] NSWSC 782 In the matter of Cardinia Nominees Pty Ltd [2013] NSWSC 32 In the matter of Carpenter International Pty Limited (Administrators Appointed) (ACN 165 690 657) [2016] VSC 118 In the matter of Duke Contracting Australia Pty Ltd [2017] NSWSC 767 Texts Cited: Annotated Personal Property Securities Act 2009 (Cth) with Regulations 2010 (Cth) (Harris & Mirzai, Wolters Kluwer CCH, 2nd ed, 2014) Category: Principal judgment Parties: www.loans.com.au Pty Ltd (First Plaintiff) Firstmac Asset Funding (Second Plaintiff) Firstmac Asset Funding (Commercial) Pty Limited (Third Plaintiff) Club Capitol Pty Ltd ACN 11456573 and others listed in Schedule A (First Defendant) Prospa Advance Pty Ltd ACN 154775667 and the others listed in schedule B (Second Defendant) Representation: Counsel: N. Mirzai (Plaintiffs)