Bank of Queensland Limited v Star Trek Pty Ltd [2019] NSWSC 1712

Supreme Court New South Wales

Medium Neutral Citation: Bank of Queensland Limited v Star Trek Pty Ltd [2019] NSWSC 1712 Hearing dates: 3 December 2019 Decision date: 03 December 2019 Jurisdiction: Common Law Before: Adamson J Decision: See paragraph [21]. Catchwords: PERSONAL PROPERTY – property secured by finance agreement – default entitling bank to seize collateral – bank's rights under s 123 of Personal Properties Securities Act 2009 (Cth) – declaration and associated orders made Legislation Cited: Bankruptcy Act 1966 (Cth), s 58 Personal Properties Securities Act 2009 (Cth), ss 123, 206, 207 Supreme Court Act 1970 (NSW), s 23 Uniform Civil Procedure Rules 2005 (NSW), r 42.1 Texts Cited: Anthony Duggan, David Brown, Australian Personal Property Securities Law (2nd ed, 2016, LexisNexis Butterworths) Category: Procedural and other rulings Parties: Bank of Queensland Limited (Plaintiff) Star Trek Pty Ltd (First Defendant) Louise Thomson in her capacity as trustee of the Bankrupt Estates of Maria and George Papadeas (Second Defendant) Representation: Counsel: J Pokoney (Plaintiff) No appearance by the defendants

Solicitors: Mills Oakley (Plaintiff) File Number(s): 2019/356468

Judgment

Introduction 1. The Bank of Queensland Limited, the plaintiff (the Bank), commenced proceedings by summons filed on 13 November 2019, seeking declarations and orders designed to authorise and facilitate the enforcement of its security interests over commercial personal property owned by Star Trek Pty Ltd, the first defendant (Star Trek). The property sought is located on land which was owned by Maria and George Papadeas but which has passed to Louise Thomson, the second defendant (the Trustee), upon her appointment as their trustee in bankruptcy: s 58 of the Bankruptcy Act 1966 (Cth). 2. Neither defendant filed an appearance in the proceedings. Mr Pokoney, who appeared on behalf of the Bank, established that each of the defendants had been served. Star Trek can be taken to oppose the orders sought although it has not, as referred to above, taken any part in the proceedings. The Trustee does not oppose the orders sought.