(1) Thompson v White (2) White v Thompson [2006] NSWSC 110

(1) Thompson v White (2) White v Thompson [2006] NSWSC 110

Mr White showed at a prima facie level a caveatable equitable interest in the Somersby property because the declarations established that the Seaforth property was intended to be a joint venture asset and his equitable interest could be traced into the Somersby property. However, an extension of the caveat required a meaningful undertaking as to damages, and Mr White's liabilities substantially exceeded his assets, so the undertaking lacked the necessary substance. The claim for $150,000 from the controlled moneys account also failed because the fund was quarantined pending final determination of unascertained entitlements, and Mr White had no present entitlement to any particular amount...

Jurisdiction
Australia
Judgment Date
02 March 2006
Procedural Posture
Applications for Payment Out of a Controlled Moneys Account and for Extension of a Caveat Under S.74 K of the Real Property Act 1900 / Ex Tempore Judgment on Interlocutory Applications After Declarations by Gzell J and Pending Completion of a Referee's Reference
Outcome
Applications dismissed with costs
Legal Topics
['caveat Extension' 'equitable Interest in Land' 'joint Venture Assets' 'undertaking as to Damages' 'controlled Moneys Account' 'quarantined Funds' 'mareva Type Exception for Legal Expenses']
['real Property' 'equity' 'civil Procedure'] ['caveat Extension' 'equitable Interest in Land' 'joint Venture Assets' 'undertaking as to Damages' 'controlled Moneys Account' 'quarantined Funds' 'mareva Type Exception for Legal Expenses']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Applications for Payment Out of a Controlled Moneys Account and for Extension of a Caveat Under S.74 K of the Real Property Act 1900 / Ex Tempore Judgment on Interlocutory Applications After Declarations by Gzell J and Pending Completion of a Referee's Reference

Legal Issues

  1. 1 ['Whether Mr White showed, to the level contemplated by s.74K of the Real Property Act 1900, a caveatable interest in the Somersby property.' "Whether an order extending the caveat should be made where Mr White's undertaking as to damages was challenged as lacking substance." "Whether $150,000 should be paid to Mr White out of the controlled moneys account before final determination of the parties' entitlements." 'Whether principles applicable to Mareva orders permitting expenditure on legal proceedings applied to the quarantined controlled moneys account.']

Ratio Decidendi

Mr White showed at a prima facie level a caveatable equitable interest in the Somersby property because the declarations established that the Seaforth property was intended to be a joint venture asset and his equitable interest could be traced into the Somersby property. However, an extension of the caveat required a meaningful undertaking as to damages, and Mr White's liabilities substantially exceeded his assets, so the undertaking lacked the necessary substance. The claim for $150,000 from the controlled moneys account also failed because the fund was quarantined pending final determination of unascertained entitlements, and Mr White had no present entitlement to any particular amount...

Court Disposition

Applications dismissed with costs

Orders

  • ['Both applications dismissed.' 'The applicant will pay the costs of the respondent in each case.']