SANYO AUSTRALIA PTY LTD & ANOR v COMPONERE INFORMATIONS SYSTEMS PTY LTD [1999] NSWCA 389

SANYO AUSTRALIA PTY LTD & ANOR v COMPONERE INFORMATIONS SYSTEMS PTY LTD [1999] NSWCA 389

The reference to the receiver being Sanyo's agent in the instrument of appointment could be severed, leaving the valid appointment of Peter Rodgers as agent of the company under the deed. Therefore, the appointment was valid. However, injunctive relief restraining the receiver from acting was justified pending the outcome of the Local Court proceedings due to the existence of a valid arguable defence.

Jurisdiction
Australia
Judgment Date
25 October 1999
Procedural Posture
Appeal / Judgment on Appeal
Outcome
Appeal allowed
Legal Topics
['deed of Equitable Mortgage' 'floating Charge' 'appointment of Receiver' 'severance of Contractual Terms' 'injunctions Pending Trial']
['equity' 'commercial Law'] ['deed of Equitable Mortgage' 'floating Charge' 'appointment of Receiver' 'severance of Contractual Terms' 'injunctions Pending Trial']

Case Brief

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Procedural Posture

Appeal / Judgment on Appeal

Legal Issues

  1. 1 ['Whether appointment of receiver and manager was invalid because instrument stated receiver was agent of mortgagee rather than agent of mortgagor' 'Whether the incorrect agency wording was severable from the appointment' 'Whether circumstances justified injunction restraining receiver pending outcome of Local Court proceedings']

Ratio Decidendi

The reference to the receiver being Sanyo's agent in the instrument of appointment could be severed, leaving the valid appointment of Peter Rodgers as agent of the company under the deed. Therefore, the appointment was valid. However, injunctive relief restraining the receiver from acting was justified pending the outcome of the Local Court proceedings due to the existence of a valid arguable defence.

Court Disposition

Appeal allowed

Orders

  • ['Appeal allowed' 'Set aside declaration and orders 3, 4, 5 made by Hamilton J on 15 October 1997' "Declare that the words 'is Sanyo's agent for the purpose of this charge' should be treated as not part of the Instrument of Appointment of the second defendant by the first defendant under registered charge 357919 as...