Arkbay Investments Pty Limited (In Liquidation) (Receivers and Managers Appointed) v Echelon Property Management Pty Ltd [2014] NSWSC 444

Arkbay Investments Pty Limited (In Liquidation) (Receivers and Managers Appointed) v Echelon Property Management Pty Ltd [2014] NSWSC 444

The supposed deed of assignment from Alexandria 1 Pty Ltd and Mr El-Cheikh to Tripod Funds Management Pty Limited was a forgery. Because there was never a valid assignment to Tripod, Tripod had no interest in the contract to assign to Echelon, and Echelon had no caveatable interest requiring protection by caveat.

Jurisdiction
Australia
Judgment Date
11 April 2014
Procedural Posture
Interlocutory Application / Summons Seeking Order That First Defendant Withdraw Caveat; Ex Tempore Judgment
Outcome
Order first defendant to withdraw caveat. Balance of proceedings adjourned.
Legal Topics
['torrens Title' 'caveats Against Dealings' 'equitable Interest as Purchaser' 'assignment of Contract for Sale' 'forgery']
['real Property' 'equity'] ['torrens Title' 'caveats Against Dealings' 'equitable Interest as Purchaser' 'assignment of Contract for Sale' 'forgery']

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Procedural Posture

Interlocutory Application / Summons Seeking Order That First Defendant Withdraw Caveat; Ex Tempore Judgment

Legal Issues

  1. 1 ['Whether the first defendant had a caveatable interest in the land by reason of an alleged assignment of the benefit of the contract for sale.' 'Whether the supposed deed of assignment dated 17 December 2013 to Tripod Funds Management Pty Limited was forged.']

Ratio Decidendi

The supposed deed of assignment from Alexandria 1 Pty Ltd and Mr El-Cheikh to Tripod Funds Management Pty Limited was a forgery. Because there was never a valid assignment to Tripod, Tripod had no interest in the contract to assign to Echelon, and Echelon had no caveatable interest requiring protection by caveat.

Court Disposition

Order first defendant to withdraw caveat. Balance of proceedings adjourned.

Orders

  • ['The first defendant withdraw caveat AI262101 in respect of the land comprised in folio identifiers 1/732095 and 2/243107 by 4pm on 14 April 2014.' 'The balance of the proceedings, including questions of damages and costs and the contempt proceeding, are adjourned to 7 May 2014 at 9.30am before me.']