Bing and Bing

In the matter of Bing and Bing, Justice Cronin of the Family Court of Australia considered applications by the husband and third parties concerning the encumbrance of certain property titles. The dispute centred on the husband's ability to further secure borrowings from Westpac Banking Corporation against properties owned by EF Pty Ltd, B, and ED Pty Ltd, which were subject to existing court orders.

The court was required to determine whether to vary existing orders to permit the husband to encumber the specified property titles for the purpose of regularising and advancing Westpac borrowings. Additionally, the court had to consider the joinder of several companies as parties to the proceedings and the dismissal of applications made by the husband and the third parties.

Justice Cronin reasoned that it was appropriate to vary the existing orders to allow the husband to further encumber the Certificates of Title to the properties owned by EF Pty Ltd, B, and ED Pty Ltd to Westpac Banking Corporation. This variation was specifically for the purpose of regularising security arrangements and advancing sums as detailed in correspondence from Minter Ellison. The court also ordered that the wife sign all necessary documents to give effect to these arrangements, including the removal of any caveats at the husband's expense. The court further ordered the joinder of O Pty Ltd, S Investment Pty Ltd, G Investments Pty Ltd, EL Pty Ltd, EN Pty Ltd, ET Pty Ltd, ES Pty Ltd, and N Pty Ltd as parties to the proceedings.

The court ordered that, save for costs, the husband's application filed on 11 June 2010 and the third parties' application filed on 10 June 2010 be dismissed. The court also certified that it was reasonable to engage counsel to attend the proceedings.