Kyriacou v Makis [2020] NSWSC 1068

Kyriacou v Makis [2020] NSWSC 1068

The plaintiff is entitled on an interim basis to be reimbursed from net rents for mortgage instalments paid from his own funds, and arrangements should be made for rental income to be deposited into an offset account from which mortgage and property outgoings are paid, pending final determination. Directions as to payment should not include wording amounting to an admission regarding entitlement to rents.

Parties
Plaintiff: Kyriacos Kyriacou; First Defendant: Andrea Makis; Second Defendant: Tina Georgiou as Executor of the Estate of the Late George Georgiou; Third Defendant: Sam Pambris
Jurisdiction
Australia
Judgment Date
14 August 2020
Procedural Posture
Interlocutory Application / Procedural/interlocutory Ruling Before Final Hearing
Outcome
Orders made in terms of plaintiff's option 2, with variation regarding payment direction wording; costs reserved to final hearing.
Legal Topics
Interlocutory Applications, Partnership Dissolution, Trusts, Mortgages, Property Management
Equity Civil Procedure Interlocutory Applications Partnership Dissolution Trusts Mortgages Property Management

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Parties

Kyriacos Kyriacou

Plaintiff

Andrea Makis

First Defendant

Tina Georgiou as Executor of the Estate of the Late George Georgiou

Second Defendant

Sam Pambris

Third Defendant

Procedural Posture

Interlocutory Application / Procedural/interlocutory Ruling Before Final Hearing

Legal Issues

  1. 1 Whether the authority to the managing agent for payment of net rents should be restored
  2. 2 Whether the plaintiff is entitled to reimbursement from net rents for mortgage payments made from his own funds
  3. 3 Appropriate interlocutory arrangements for management of rental income and mortgage payments pending final hearing

Ratio Decidendi

The plaintiff is entitled on an interim basis to be reimbursed from net rents for mortgage instalments paid from his own funds, and arrangements should be made for rental income to be deposited into an offset account from which mortgage and property outgoings are paid, pending final determination. Directions as to payment should not include wording amounting to an admission regarding entitlement to rents.

Court Disposition

Orders made in terms of plaintiff's option 2, with variation regarding payment direction wording; costs reserved to final hearing.

Orders

  • Net rent from all home units to be deposited into a nominated offset account.
  • Plaintiff to be reimbursed from net rent for mortgage contributions made from own funds for March to July 2020, less rent from two units.