WALL and ORS v DAMICO INVESTMENTS PTY LTD and ANOR [1994] NSWCA 335

WALL and ORS v DAMICO INVESTMENTS PTY LTD and ANOR [1994] NSWCA 335

The interlocutory injunction is appropriate to prevent a significant change in the composition of the trust assets pending determination of the substantive proceedings, as the construction of the Deed of Trust relied upon by Brownie J does not dispel the claimants’ equity.

Parties
Claimants: Wall and Ors; Opponents: Damico Investments Pty Ltd and Anor
Jurisdiction
Australia
Judgment Date
21 September 1994
Procedural Posture
Appeal / Application for Interim Injunction Pending Appeal
Outcome
Interim injunction granted; leave to appeal granted
Legal Topics
Interim Injunction, Trust Asset Protection, Auction Restraint
Equity Trusts Property Law Interim Injunction Trust Asset Protection Auction Restraint

Case Brief

Summary, issues, holding and outcome

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Parties

Wall and Ors

Claimants

Damico Investments Pty Ltd and Anor

Opponents

Procedural Posture

Appeal / Application for Interim Injunction Pending Appeal

Legal Issues

  1. 1 Whether an interim injunction should be granted to restrain sale of trust property pending appeal
  2. 2 Proper construction of clauses 11 and 12 of the Deed of Trust

Ratio Decidendi

The interlocutory injunction is appropriate to prevent a significant change in the composition of the trust assets pending determination of the substantive proceedings, as the construction of the Deed of Trust relied upon by Brownie J does not dispel the claimants’ equity.

Court Disposition

Interim injunction granted; leave to appeal granted

Orders

  • Leave to appeal granted
  • Interim injunction restraining PB & AT Wall Pty Ltd from auctioning or selling "Woolangabba" by public auction until the hearing of the appeal or further order