Digiplus Pty Ltd v RSL COM Partners Pty Ltd [2003] FCA 1094

Digiplus Pty Ltd v RSL COM Partners Pty Ltd [2003] FCA 1094

Payment into Court of the alleged debt does not discharge the debt owing under the charge, nor entitle Digiplus to a statutory memorandum of discharge under s 269 of the Corporations Act. Section 171 of the Conveyancing Act does not operate to exonerate the applicant from payment obligations to the chargee, unless payment is authorised by a substantive statutory provision, which is not the case in these proceedings.

Jurisdiction
Australia
Judgment Date
09 October 2003
Procedural Posture
Corporate Dispute Over Fixed and Floating Charge / Determination of Separate Questions Before Other Questions in Proceedings
Outcome
Applicant's separate questions answered 'no'. Applicant to pay respondent’s costs of and incidental to the separate questions and application.
Legal Topics
['fixed and Floating Charge' 'payment Into Court' 'discharge of Charge' 'statutory Memorandum of Discharge']
['corporations Law' 'mortgages and Charges'] ['fixed and Floating Charge' 'payment Into Court' 'discharge of Charge' 'statutory Memorandum of Discharge']

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Procedural Posture

Corporate Dispute Over Fixed and Floating Charge / Determination of Separate Questions Before Other Questions in Proceedings

Legal Issues

  1. 1 ['Whether payment into Court by the chargor exonerates it from making payment to the chargee under a fixed and floating charge' 'Whether payment into Court discharges the debt within the meaning of s 269 of the Corporations Act 2001 (Cth)' 'Whether the respondent is obliged to deliver to the applicant a statutory memorandum acknowledging discharge pursuant to s 269']

Ratio Decidendi

Payment into Court of the alleged debt does not discharge the debt owing under the charge, nor entitle Digiplus to a statutory memorandum of discharge under s 269 of the Corporations Act. Section 171 of the Conveyancing Act does not operate to exonerate the applicant from payment obligations to the chargee, unless payment is authorised by a substantive statutory provision, which is not the case in these proceedings.

Court Disposition

Applicant's separate questions answered 'no'. Applicant to pay respondent’s costs of and incidental to the separate questions and application.

Orders

  • ['The answers to the separate questions are: (A) No. (B) No. (C) No.' "The applicant pay the respondent's costs of and incidental to the separate questions and the application therefor."]