BBC Hardware Ltd v GT Homes Pty Ltd

[1996] QSC 273

IN THE SUPREME COURT

OF QUEENSLAND
  Writ No. 1498 of 1996

[BBC Hardware Ltd v. G.T. Homes P/L]

BETWEEN:
  BBC HARDWARE LIMITED (ACN 000 003 378)
  Plaintiff
AND:

G T HOMES PTY LTD (ACN 009 687 530)

First Defendant
AND:
  ROBERT JAMES TRASK and GIOVANNA SONJA TRASK
  Second Defendants

REASONS FOR JUDGMENT - THOMAS J

Delivered:17 December 1996

CATCHWORDS: Corporations - Equitable charge by supplier over land of company and its directors - company going in administration before judgment - whether leave to proceed should be granted - nature of charge - whether lodgment of caveat and commencement of proceedings amount to exercise of power in relation to property (under s.441B(1)(e)) - Foxcraft (1994) 15 ACSR 203 distinguished - different factors operating in grant of leave in favour of secured creditor - Corporations Law ss. 440B, 440D, 440J, 441B.

Counsel:Mr A. Lyons for the Plaintiff

Mr A.W. Carlton-Smith for the First Defendant

Mr J.D. Cronin for the Second Defendant

Solicitors:Bennett & Philp for the Plaintiff

Halletts for the Defendants

Hearing Date:   17 December 1996