Kazacos v Shuangling International Development Pty Ltd [2015] NSWSC 835

Kazacos v Shuangling International Development Pty Ltd [2015] NSWSC 835

Given evidence of a serious question as to whether the first defendant has a beneficial interest in the property and the danger that a prospective judgment will be unsatisfied, the requirements for a freezing order against CLGC Investment are met under UCPR r 25.14(5). An order is appropriate to restrain dealing with net proceeds of sale to preserve the status quo.

Jurisdiction
Australia
Judgment Date
26 June 2015
Procedural Posture
Freezing Order/injunction / Interlocutory
Outcome
Order restraining CLGC Investment from dealing with net proceeds of sale of property until further order.
Legal Topics
['freezing Orders' 'injunctions' 'beneficial Interest' 'asset Preservation']
['equity' 'civil Procedure'] ['freezing Orders' 'injunctions' 'beneficial Interest' 'asset Preservation']

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Procedural Posture

Freezing Order/injunction / Interlocutory

Legal Issues

  1. 1 ['Whether the first defendant has a beneficial interest in the property at 319 Sussex Street' 'Whether CLGC Investment should be restrained from dealing with net proceeds of sale of property' 'Requirements for freezing orders against a non-party under Uniform Civil Procedure Rules 2005 (NSW) r 25.14(5)']

Ratio Decidendi

Given evidence of a serious question as to whether the first defendant has a beneficial interest in the property and the danger that a prospective judgment will be unsatisfied, the requirements for a freezing order against CLGC Investment are met under UCPR r 25.14(5). An order is appropriate to restrain dealing with net proceeds of sale to preserve the status quo.

Court Disposition

Order restraining CLGC Investment from dealing with net proceeds of sale of property until further order.

Orders

  • ['CLGC Investment restrained from dealing with net proceeds of any sale of 319 Sussex Street (after mortgage discharge and payment of costs of sale) until further order of the Court.' 'Plaintiffs to give usual undertaking as to damages.' 'Plaintiffs to bring in proposed form of order and procedural directions.']