Coast Reo Pty Limited v O'Brien & (2) Ors [2006] NSWSC 1098

Coast Reo Pty Limited v O'Brien & (2) Ors [2006] NSWSC 1098

A plain reading of clause (o) of the agreement leads to the conclusion that both the company and the individual named in section 4, namely Mr O'Brien, agreed to charge their interests in property in favour of the plaintiff. Thus, Mr O'Brien is personally bound by the charge and trustees for sale can be appointed.

Source-derived case information.

Jurisdiction
Australia
Judgment Date
17 October 2006
Procedural Posture
Civil / Final Judgment
Outcome
Judgment for the plaintiff
Legal Topics
['commercial Credit Agreements' 'personal Liability' 'charge Over Property' 'appointment of Trustees for Sale' 'construction of Contract Clauses']
['equity' 'commercial Law' 'property Law'] ['commercial Credit Agreements' 'personal Liability' 'charge Over Property' 'appointment of Trustees for Sale' 'construction of Contract Clauses']

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Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 ["Whether Mr O'Brien is personally bound by the Commercial Credit Facility Application and Supply Agreement" "Proper construction of clause (o) and whether it creates a charge over personal property of Mr O'Brien"]

Ratio Decidendi

A plain reading of clause (o) of the agreement leads to the conclusion that both the company and the individual named in section 4, namely Mr O'Brien, agreed to charge their interests in property in favour of the plaintiff. Thus, Mr O'Brien is personally bound by the charge and trustees for sale can be appointed.

Court Disposition

Judgment for the plaintiff

Orders

  • ["Declaration plaintiff has a caveatable interest in the first defendant's interest in Folio Identifier 14/SP73420 and 5/13304" 'Judgment for the plaintiff in the sum of $330,125.95' 'Interest pursuant to clause (i) of agreement or s 100 Civil Procedure Act 2005' 'Appointment of Scott Darren Pascoe and Alan Hayes as...