Australia and New Zealand Banking Group Ltd Re Harsit Holdings Pty Ltd

The applicant, Australia and New Zealand Banking Group Ltd, sought an extension of time for the registration of a mortgage over property held by Harsit Holdings Pty Ltd. The bank had already exercised its power of sale over the whole of the charged property, and the property had been sold. The Federal Circuit Court was tasked with determining whether there was any utility in the order sought by the bank.

The central issue before the court was whether there was any benefit or utility in ordering the registration of the charge, given that the power of sale had already been exercised and the property sold. The bank argued that registration of the charge could still be useful for various reasons, including protecting its interests in the proceeds of the sale and establishing a record of the charge for future reference. The respondent argued that there was no utility in the order, as the power of sale had already been exercised and the property sold.

The court held that there was no utility in the order sought by the bank. The court found that the power of sale had already been exercised over the whole of the charged property, and the property had been sold. The court concluded that there was no benefit in ordering the registration of the charge, as it would not affect the outcome of the sale or provide any protection to the bank's interests in the proceeds of the sale. The court held that the order sought by the bank was futile, and dismissed the application.

The Federal Circuit Court dismissed the application for an extension of time for the registration of the charge. The court found that there was no utility in the order sought by the bank, as the power of sale had already been exercised and the property sold. The court held that the application was futile and dismissed it accordingly.