Permanent Custodians Limited v Tong [2012] NSWSC 1373

Permanent Custodians Limited v Tong [2012] NSWSC 1373

The interest of a judgment creditor under a writ of execution does not confer an equitable interest and, as such, does not take priority over the State's forfeiture order. Since the writ had lapsed and was not renewed, the creditor was not entitled to claim exclusion under the Act, and thus the NSW Trustee and Guardian is entitled to the $27,000 plus interest from funds in court.

Jurisdiction
Australia
Judgment Date
16 November 2012
Procedural Posture
Interlocutory Application / Decision
Outcome
Declaration in favour of NSW Trustee and Guardian; orders for payment of $27,000 plus interest out of funds in court
Legal Topics
['effect of Caveat' 'forfeiture Order' 'effect on Equitable Interests' 'innocent Creditors' 'writ of Execution Priority']
['criminal Assets Confiscation' 'property Law' 'civil Procedure'] ['effect of Caveat' 'forfeiture Order' 'effect on Equitable Interests' 'innocent Creditors' 'writ of Execution Priority']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Interlocutory Application / Decision

Legal Issues

  1. 1 ['Whether the NSW Trustee and Guardian is entitled to payment of $27,000 plus interest from funds paid into court after forfeiture order' 'Priority between State and judgment creditor with respect to surplus proceeds from sale of forfeited property']

Ratio Decidendi

The interest of a judgment creditor under a writ of execution does not confer an equitable interest and, as such, does not take priority over the State's forfeiture order. Since the writ had lapsed and was not renewed, the creditor was not entitled to claim exclusion under the Act, and thus the NSW Trustee and Guardian is entitled to the $27,000 plus interest from funds in court.

Court Disposition

Declaration in favour of NSW Trustee and Guardian; orders for payment of $27,000 plus interest out of funds in court

Orders

  • ['Declare NSW Trustee and Guardian entitled to receive sum of $27,000 plus interest referable to that sum.' 'Order amount be paid out of court to NSW Trustee and Guardian.' 'Order judgment to be served on Mr Sfar.']