Price v ACN 627 087 030 Pty Ltd trading as Yates Beaggi Lawyers [2020] NSWSC 584

Supreme Court New South Wales

Medium Neutral Citation: Price v ACN 627 087 030 Pty Ltd trading as Yates Beaggi Lawyers [2020] NSWSC 584 Hearing dates: 15 May 2020 Date of orders: 18 May 2020 Decision date: 18 May 2020 Jurisdiction: Equity - Duty List Before: Williams J Decision: Interlocutory injunction granted restraining each of the defendants from taking possession of or otherwise dealing with certain real property, and from acting in reliance upon certain security provisions in two costs agreements entered into between the plaintiffs and the first defendant and/or a deed of appointment between the first defendant and the second defendant as receiver and manager. Catchwords: EQUITY – injunctions – interlocutory injunctions – where plaintiffs retained legal services of the first defendant – plaintiffs entered into two costs agreements with the first defendant which contained security provisions granting the first defendant an equitable charge over all of the plaintiffs' present and future property to secure payment of any amount unpaid on tax invoices issued by the first defendant – where security provisions also stipulated that any non-payment of first defendant's invoices as and when they fall due would be a payment default entitling the first defendant to appoint an "external controller" – second defendant subsequently appointed by first defendant as receiver and manager of first plaintiff's real properties – where plaintiffs seek to restrain defendants from taking possession of and otherwise dealing with those properties and taking further steps in reliance on the security provisions and/or the deed of appointment of the second defendant – serious question to be tried conceded – balance of convenience favours the grant of interlocutory relief Legislation Cited: Corporations Act 2001 (Cth), s 420 Legal Profession Uniform Law (NSW), ss 206, 472 Cases Cited: Australian Broadcasting Corporation v Lenah Game Meats Pty Ltd (2001) 208 CLR 199; [2001] HCA 63 Beecham Group Ltd v Bristol Laboratories Pty Ltd (1968) 118 CLR 618 Hanson Construction Materials Pty Ltd v Roberts (2016) 93 NSWLR 1; [2016] NSWCA 240 M J Leonard Pty Ltd v Bristrol Custodians Ltd (in liq) [2013] NSWSC 1734 Malouf v Constantinou [2017] NSWSC 923 Category: Procedural and other rulings Parties: Andrew John Price (First Plaintiff) Elisabeth Christine Theodore (Second Plaintiff) ACN 627 087 030 Pty Ltd trading as Yates Beaggi Lawyers (First Defendant) Daniel Frisken (Second Defendant) Representation: Counsel: Mr L T Fermanis (Plaintiffs) Mr A W Smith (First Defendant) Mr J Frangi, solicitor (Second Defendant)