King v Brown (No.2) [2021] NSWSC 1060

King v Brown (No.2) [2021] NSWSC 1060

Principal under mortgage is repayable in Canadian dollars as per second deed of variation; interest and costs are payable in Australian dollars; mortgage and its variations are valid and enforceable; claimed costs and receiver's expenses recoverable on indemnity basis and by certificate; cross claim for damages, wages, asset ownership, and unconscionability not established; no basis for removal of receiver, or orders against Hall Chadwick; defendants must pay plaintiff's costs on indemnity basis.

Jurisdiction
Australia
Judgment Date
24 August 2021
Procedural Posture
Principal Judgment / Final Orders Following Hearings and Cross Claim
Outcome
Amended cross claim dismissed. Judgment for plaintiff for principal (Canadian dollars), interest and costs/expenses (Australian dollars). Costs to plaintiff on indemnity basis. Plaintiff to file proposed orders as to calculation within 7 days; parties may approach court if issue remains for final calculation within...
Legal Topics
['loan Agreements' 'mortgage Validity' 'currency of Repayment' 'receiver Liability' 'power of Sale' "creditor's Rights" 'appointment/removal of Receiver' 'wages Claims' 'unconscionability' 'damages for Breach of Mortgagee Duties']
['contracts' 'mortgages and Securities' 'corporations' 'employment and Industrial Law'] ['loan Agreements' 'mortgage Validity' 'currency of Repayment' 'receiver Liability' 'power of Sale' "creditor's Rights" 'appointment/removal of Receiver' 'wages Claims' 'unconscionability' 'damages for Breach of Mortgagee Duties']

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Procedural Posture

Principal Judgment / Final Orders Following Hearings and Cross Claim

Legal Issues

  1. 1 ['Whether the principal and interest under mortgage are payable in Canadian or Australian dollars' 'Whether mortgage and variations are valid' 'Whether claimed costs and expenses are recoverable' "Whether Riverpines Vineyard Pty Ltd's assets were properly dealt with" "Whether mortgagee's power of sale was properly exercised" 'Whether duties owed by receiver/mortgagee were breached' 'Whether employment relationship existed for claimed wages' 'Whether agreements or conduct were unconscionable']

Ratio Decidendi

Principal under mortgage is repayable in Canadian dollars as per second deed of variation; interest and costs are payable in Australian dollars; mortgage and its variations are valid and enforceable; claimed costs and receiver's expenses recoverable on indemnity basis and by certificate; cross claim for damages, wages, asset ownership, and unconscionability not established; no basis for removal of receiver, or orders against Hall Chadwick; defendants must pay plaintiff's costs on indemnity basis.

Court Disposition

Amended cross claim dismissed. Judgment for plaintiff for principal (Canadian dollars), interest and costs/expenses (Australian dollars). Costs to plaintiff on indemnity basis. Plaintiff to file proposed orders as to calculation within 7 days; parties may approach court if issue remains for final calculation within...

Orders

  • ['Amended cross claim dismissed.' "Mr and Mrs Brown to pay Mr King's costs of proceedings on indemnity basis." 'Final orders in favour of Mr King to reflect calculation of amount owed as per conclusions; plaintiff to file and serve proposed orders within 7 days.' 'Liberty for parties to approach court on issue of...