ACN 601 158 507 Pty Ltd v Damodaran [2019] NSWSC 647

Supreme Court New South Wales

Medium Neutral Citation: ACN 601 158 507 Pty Ltd v Damodaran [2019] NSWSC 647 Hearing dates: 30, 31 May 2019 Date of orders: 04 June 2019 Decision date: 04 June 2019 Jurisdiction: Equity Before: Henry J Decision: (1) Order that the plaintiff withdraw caveat number AN922854 over the defendant's land contained in certificate of title folio identifier 4/358298 (defendant's property) forthwith. (2) Grant leave to the plaintiff, pursuant to section 74O of the Real Property Act 1900 (NSW), to lodge a further caveat in respect of the defendant's property claiming an interest by way of a charge for payment of moneys outstanding and an entitlement to lodge a caveat pursuant to clauses 24.5 and 24.11 of a Loan Agreement and Guarantee dated 16 October 2018 between the plaintiff and the defendant. (3) No order as to costs with the intent that the plaintiff will bear its own costs of the proceedings. (4) Otherwise dismiss the plaintiff's summons and notice of motion dated 13 May 2019. Catchwords: LAND LAW – caveats – whether caveatable interest arose under Loan Agreement – whether caveat is invalid for lack of description – extension of operation of caveat refused – leave to lodge fresh caveat pursuant to s 74O Real Property Act 1900 (NSW) Legislation Cited: Civil Procedure Act 2005 (NSW) s 98 Real Property Act 1900 (NSW) ss 74F, 74K, 74L, 74MA, 74O, 74P Real Property Regulation 2014 (NSW) sch 3 Supreme Court Act 1970 (NSW) s 75 Uniform Civil Procedure Rules 2005 (NSW) r 42.1 Cases Cited: Bellissimo v JCL Investments Pty Ltd [2009] NSWSC 1260 Church of the Foursquare Gospel (Australia) Ltd v New Hope Church Swansea Inc [2019] NSWSC 519 Depsun Pty Ltd v Tahore Holdings Pty Ltd (1990) 5 BPR 11,314 Forster v Jododex Australia Pty Ltd (1972) 127 CLR 421 FTFS Holdings Pty Ltd v Business Acquisitions Australia Pty Ltd [2006] NSWSC 846 Hanson Construction Materials Pty Ltd v Vimwise Civil Engineering Pty Ltd [2005] NSWSC 880 Hill v Dunn [2019] NSWSC 419 Jackson v Richards [2005] NSWSC 630 Murphy v Wright (1992) 5 BPR 97,402 Patrick John Moloney v Maria Coppola & Anor [2012] NSWSC 728 Perpetual Nominees Ltd v Springfield Retail Pty Ltd [2009] NSWSC 188 Ron Medich Properties Pty Limited v McGurk [2010] NSWSC 552 Russian Commercial and Industrial Bank v British Bank for Foreign Trade [1921] 2 AC 438 Sutherland v Vale [2008] NSWSC 759 Taleb v National Bank Ltd (2011) 82 NSWLR 489 The Woodsman Pty Ltd v Jozic [2018] NSWSC 1311 Wu v Dardaneliotou [2008] NSWSC 1319 Zetting v Müller [2017] NSWSC 659 Category: Principal judgment Parties: ACN 601 158 507 Pty Ltd (Plaintiff) Prem Kumar Damodaran (Defendant) Representation: Counsel: D Grippi (Plaintiff) No appearance by the defendant