Fingret & Anor v Vescio [1999] NSWSC 1280

Fingret & Anor v Vescio [1999] NSWSC 1280

The injunction was granted because there was an arguable ground that the plaintiffs had agreed to accept the outstanding monies and cancel the auction, and because there was doubt as to whether the property had been duly marketed to achieve the best price, particularly regarding its two-title status. An undertaking as to damages was provided and evidence of adequate finance was produced, supporting the balance of convenience in favour of injunctive relief.

Parties
Plaintiff: Edward Geoffrey Fingret; Plaintiff: Janet Shirley Fingret; Defendant: Paul Michael Vescio; Joined Party: Ray Ross Pty Ltd trading as Ray White Real Estate Manly
Jurisdiction
Australia
Judgment Date
19 September 1999
Procedural Posture
Injunction Application in Possession Proceedings / Interlocutory Application
Outcome
Application for injunction granted
Legal Topics
Injunction, Sale by Auction, Possession Proceedings
Property Law Mortgage Law Injunction Sale by Auction Possession Proceedings

Case Brief

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Parties

Edward Geoffrey Fingret

Plaintiff

Janet Shirley Fingret

Plaintiff

Paul Michael Vescio

Defendant

Ray Ross Pty Ltd trading as Ray White Real Estate Manly

Joined Party

Procedural Posture

Injunction Application in Possession Proceedings / Interlocutory Application

Legal Issues

  1. 1 Whether an injunction should be granted to restrain auction or sale of a mortgaged property

Ratio Decidendi

The injunction was granted because there was an arguable ground that the plaintiffs had agreed to accept the outstanding monies and cancel the auction, and because there was doubt as to whether the property had been duly marketed to achieve the best price, particularly regarding its two-title status. An undertaking as to damages was provided and evidence of adequate finance was produced, supporting the balance of convenience in favour of injunctive relief.

Court Disposition

Application for injunction granted

Orders

  • Ray Ross Pty Ltd trading as Ray White Real Estate Manly joined as party for purposes of the orders
  • Plaintiffs and Ray Ross Pty Ltd restrained from proceeding to auction or sell or dispose of the property at 1/2 A and 2/2 A Kentwell Parade North Manly composed in folio identifier 1/SP 55060 and 2/SP 55060 until further order