BMW Australia Finance Ltd v Mehajer Vision Pty Ltd (No2) [2021] NSWSC 1379

BMW Australia Finance Ltd v Mehajer Vision Pty Ltd (No2) [2021] NSWSC 1379

The court was satisfied on the evidentiary material that BMW had a first ranking, registered security interest under a chattel mortgage, and that Mehajer Vision had no legal basis for its claimed interest. Thus, BMW was entitled to declaratory and other relief, including possession and sale of the vehicle, and removal of the PPSR registration by Mehajer Vision.

Parties
Plaintiff: BMW Australia Finance Ltd; First Defendant: Mehajer Vision Pty Ltd; Second Defendant: Registrar of Personal Property Securities
Jurisdiction
Australia
Judgment Date
27 October 2021
Procedural Posture
Principal Judgment / Consent Orders Granted at Final Hearing
Outcome
Orders made by consent in favour of the plaintiff.
Legal Topics
Priority of Interests, Security Interests, Personal Property Securities Act, Declaratory Relief, Possession
Property Bankruptcy Commercial Law Priority of Interests Security Interests Personal Property Securities Act Declaratory Relief Possession

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Parties

BMW Australia Finance Ltd

Plaintiff

Mehajer Vision Pty Ltd

First Defendant

Registrar of Personal Property Securities

Second Defendant

Procedural Posture

Principal Judgment / Consent Orders Granted at Final Hearing

Legal Issues

  1. 1 Whether BMW Australia Finance Ltd is entitled to possession and sale of the Ferrari motor vehicle under the Personal Property Securities Act 2009 (Cth)
  2. 2 Whether Mehajer Vision Pty Ltd had a valid security interest in the Ferrari
  3. 3 Priority of interests between registered and unregistered (or later registered) security interests under the PPSA

Ratio Decidendi

The court was satisfied on the evidentiary material that BMW had a first ranking, registered security interest under a chattel mortgage, and that Mehajer Vision had no legal basis for its claimed interest. Thus, BMW was entitled to declaratory and other relief, including possession and sale of the vehicle, and removal of the PPSR registration by Mehajer Vision.

Court Disposition

Orders made by consent in favour of the plaintiff.

Orders

  • The Plaintiff is entitled to possession of a 2011 Ferrari 458 ITA Coupe motor vehicle (Engine No. XXXXXXXXXXXXXXXXXXX, VIN No. XXXXXXXXXXXXXXXXX);
  • The Plaintiff is entitled to sell the vehicle;