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Oversea Chinese Banking Corporation (OCBC) v Malaysian Kuwaiti Investment Co Sdn Bhd (MKIC)

Oversea Chinese Banking Corporation (OCBC) v Malaysian Kuwaiti Investment Co Sdn Bhd (MKIC)

Case [2003] VSC 495

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AGLC: Oversea Chinese Banking Corporation (OCBC) v Malaysian Kuwaiti Investment Co Sdn Bhd (MKIC) [2003] VSC 495
Case: [2003] VSC 495
Decision Date: 19 December 2003

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Citations

Oversea Chinese Banking Corporation (OCBC) v Malaysian Kuwaiti Investment Co Sdn Bhd (MKIC) [2003] VSC 495

Most Recent Citation

Creasy's Grain Enterprises Pty Ltd v Clarke & Barwood Lawyers Colac Ltd [2004] VSC 77

Cases Citing This Decision

68 Bridge Road Land Pty Ltd v GLP Batesford Holdings Pty Ltd [2023] VSCA 325
Citation 1 (Para 9)

…whether the law relating to tacking has any relevance in respect of the all moneys mortgage over the property.[18] [18]See OCBC v MKIC and Aljade [2003] VSC 495, [68]–[72] (Redlich J); Salta Constructions Pty Ltd v St George Bank [2013] VSC 685, [33] (Judd J).…
18 Woodville Holding Pty Ltd v Hua Cheng International Holdings Group Pty Ltd (in liq) (No 2) [2022] NSWSC 947
Citation 2 (Para 73)

…The Active Defendants submit, relying on the decision in Oversea Chinese Banking Corporation (OCBC) v Malaysian Kuwait Investment Co Sdn Bhd (MKIC) [2003] VSC 495 ( OCBC ), that knowing of the interests of the 11 purchasers, Super Vision should have made its own enquiries of those purchasers to satisfy itself tha…
Pirovic v Barbieri [2020] NSWSC 1892
Citation 3 (Para 57)

…c Pty Ltd [2004] NSWCA 457; (2004) 12 BPR 22735 at 22742; Oversea-Chinese Banking Corp Ltd (OCBC) v Malaysian Kuwaiti Investment Co (MKIC) and Aljade [2003] VSC 495 at [32] and [35]; Re Piccolo, McVeigh (Trustee of the Estate of John Peter Piccolo) the National Australia Bank Limited (2000) FCA 187 at [84].…
Meldov Pty Ltd v Bank of Queensland [2015] NSWSC 378
Citation 4 (Para 61)

…Much the same can be said in my view in relation to the next decision, Oversea Chinese Banking Corporation v Malaysian Kuwaiti Investment Co Sdn Bhd [2003] VSC 495. There Redlich J considered whether the mortgage at issue was, at the time of its execution, intended to secure further advances that might be made pu…
Olympic Holdings Pty Ltd v Windslow Corporation Pty Ltd (in liq) [2008] WASCA 80
Citation 5 (Para 2)

…as this aspect of tacking is not dependent upon the doctrine of estates: Oversea‑Chinese Banking Corporation Ltd v Malaysian Kuwaiti Investment Co [2003] VSC 495 [72] (Redlich J); R & I Bank of Western Australia Ltd v Cash Resources Australia Pty Ltd (1993) 11 WAR 536 (Anderson J). However, it has thereafter bee…
St George Bank Ltd v McTAGGART [2007] WASC 150
Citation 6

…0 ALR 46 Hopkinson v Rolt (1861) 9 HL Cas 514 Nia v Phuong (1993) NSW ConvR 55-671 Oversea-Chinese Banking Corp Ltd v Malaysian Kuwaiti Investment Co [2003] VSC 495 Panebianco v Bendigo Bank Ltd [1999] VSC 50 R & I Bank of Western Australia Ltd v Cash Resources Australia Pty Ltd (1993) 11 WAR 536 Sibbles v Highfe…
Westpac Banking Corporation v Adelaide Bank Limited [2005] NSWSC 517
Citation 7

…) 11 WAR 536 Nia v Phuong (1993) 6 BPR 13,141; (1993) NSW Conv R 55-671 Oversea-Chinese Banking Corporation v Malaysian Kuwaiti Investment Co SDN BHD [2003] VSC 495 Vane v Vane (1873) 8 Ch App 383 In re Montagu's Settlement Trusts [1987] Ch 264 at 283 El Ajou v Dollar Land Holdings plc [1994] 2 All ER 685 K & S C…
GLP Batesford Pty Ltd v 68 Bridge Road Land Pty Ltd [2024] VSC 182
Citation 8 (Para 1)

…hich Redlich J held that the rule in Hopkinson v Rolt applies for the benefit of a purchaser of Torrens land.[42] [41](1861) 11 ER 829. [42][2003] VSC 495, [76]-[78] (‘ OCBC ’).…
Dixon (as trustee of the bankrupt estate of Toufic Sassine) v Lennon [2023] VSC 426
Citation 9

…[21][2003] VSC 495 (‘ OCBC v MKIC ’).…
ANZ v Loftus [2016] VSC 58
Citation 10 (Para 1)

…s v Australia and New Zealand Banking Group Limited (2000) VR 531 [52]; Oversea Chinese Banking Corporation Limited v Malaysian Kuwaiti Investment Co [2003] VSC 495 [31]-[36].…
Salta Constructions Pty Ltd v St George Bank [2013] VSC 685
Citation 11 (Para 1)

…pkinson v Rolt [6] is found in the judgment of Redlich J (as he then was) in OCBC v MKIC and Aljade :[7] [6](1861) 9 HL Cas 514; (1861) 11 ER 829. [7][2003] VSC 495, footnotes omitted.…
McDonald's Australia Limited v Bendigo and Adelaide Bank Limited [2013] VSC 639
Citation 12 (Para 1)

…ch a lender might be anxious to ensure that an advance was applied as intended. The value of security may depend upon it. [24] OCBC v MKIC and Aljade [2003] VSC 495 at [172].…
Aljade and MKIC v OCBC [2004] VSC 351
Citation 13 (Para 1)

…he bank had failed to make any inquiries as to whether the Plaintiffs had abandoned their interests its defence was doomed to fail. [46]OCBC v MKIC [2003] VSC 495 at [158].…
Creasy's Grain Enterprises Pty Ltd v Clarke & Barwood Lawyers Colac Ltd [2004] VSC 77
Citation 14 (Para 36)

…[3][2003] VSC 495 at [36]…

Cases Cited

Statutory Material Cited

Torre v Jonamill [2002] NSWSC 152
Citation 1 (Para 1)

…stralian and New Zealand Banking Group Ltd (2000) 2 VR 531; Smith v Australia and New Zealand Banking Group (1996) NSW ConvR 55-774; Torre v Jonamill [2002] NSWSC 152; Sibbles & Anor v Highfern Pty Ltd (1987) 164 CLR 214; Panebianco v Bendigo Bank [1999] VSC 50 ; McVeigh, in the matter of Piccolo v National Austral…
Cuzeno RVM Pty Ltd v Overton Investments Pty Ltd [2002] NSWSC 88
Citation 2 (Para 1)

…orted, Supreme Court of NSW (Sperling J 26 March 1996); McVeigh in the matter of Piccolo v National Australia Bank Ltd, supra Footnote 5 per Kenny J; Cuzeno RVM Pty Ltd v Overton Investments Pty Ltd. (2002) 10 BPR 19,425.…
Ryan v Dries [2002] NSWCA 3
Citation 3 (Para 1)

…996); McVeigh in the matter of Piccolo v National Australia Bank Ltd, supra Footnote 5 per Kenny J; Cuzeno RVM Pty Ltd v Overton Investments Pty Ltd. (2002) 10 BPR 19,425.…
Beachquest Pty Ltd v Interstate Mortgage and Investments Pty Ltd [2001] QSC 512
Citation 4 (Para 1)

…ing this conclusion White J followed Donemore's case. [115]Supra Footnote 57 at 379 per Fitzgibbon LJ. [116]Supra Footnote 56 at 676 per Boyd C. [117][2001] QSC 512 at paragraph 42.…
Federal Commissioner of Taxation v Sara Lee Household & Body Care (Australia) Pty Ltd [2000] HCA 35
Citation 5 (Para 1)

…Vic) Pty Ltd (1957) 98 CLR 93; Federal Commissioner of Taxation of the Commonwealth of Australia v Sara Lee Household & Body Care (Australia) Pty Ltd (2000) 201 CLR 520; Scarel Pty Ltd v City Loan & Credit Corporation Pty Ltd (1986) 4 BPR 9226.…
Ronan v ANZ Banking Group Ltd [2000] VSCA 77
Citation 6 (Para 1)

…140 ALR 46 per Hill J at 55 ; Clark's Refrigerated Transport Pty Ltd (in liq); Re [1982] VR 989; Ronan v Australian and New Zealand Banking Group Ltd (2000) 2 VR 531; Smith v Australia and New Zealand Banking Group (1996) NSW ConvR 55-774; Torre v Jonamill [2002] NSWSC 152; Sibbles & Anor v Highfern Pty Ltd (1987)…
McVeigh v National Australia Bank Ltd [2000] FCA 187
Citation 7 (Para 1)

…Anor v Highfern Pty Ltd (1987) 164 CLR 214; Panebianco v Bendigo Bank [1999] VSC 50 ; McVeigh, in the matter of Piccolo v National Australia Bank Ltd [2000] FCA 187; Commonwealth Bank of Australia v Aspenview Productions Pty Ltd [2001] VSC 444. [6]Supra Footnote 5. [7]Supra Footnote 5. [8]Supra Footnote 5. [9]Sup…
Russo v Bendigo Bank Ltd [1999] VSCA 108
Citation 8 (Para 1)

…the rule in Hopkinson v Rolt . [72]Supra Footnote 48 at 132. [73](1993) 11 WAR 536 at 547. [74][1905] AC 176. [75]See Russo v Bendigo Bank Ltd [1999] 3 VR 376 at paragraphs 26 to 30 per Ormiston JA. [76] Bahr v Nicolay (No. 2) (1988) 164 CLR 604 at 614 per Mason CJ and Dawson J; Latec Investments Ltd v Hote…
Moffett v Dillon [1999] VSCA 32
Citation 9

…[37]Supra Footnote 36 at 143. See also Moffett v Dillon [1999] 2 VR 480 per Brooking JA at 485-6 as to the analogous approach to competing equitable interests.…
F & F Holdings Pty Ltd v Ridge Lane Pty Ltd [1998] VSCA 72
Citation 10 (Para 1)

…drian J. et al , (1977) Australian Real Property Law ( 2 nd Ed.), Lawbook Co., Sydney, at [14.87]; F & F Holdings Pty Ltd v Ridge Lane Pty Ltd & Anor [1998] VSCA 72 at [1-2]; Fisher, William Richard (2002), Fisher and Lightwood's Law of mortgage (11 th Ed.), Butterworths, London, at [25.15] and [28.4]. [3]Registr…
Bank of South Australia Ltd v Ferguson [1998] HCA 12
Citation 11 (Para 1)

…Ltd v Hotel Terrigal Pty Ltd (in liq) (1965) 113 CLR 265 at 273 per Kitto J. [77] Pyramid Building Society (in liq) v Scorpion Hotels Pty Ltd [1998] 1 VR 188. [78]Supra Footnote 75. [79]Supra Footnote 75 at 391.…
Smith v Australia and New Zealand Banking Group Ltd [1996] NSWCA 482
Citation 12 (Para 1)

…ll J at 55 ; Clark's Refrigerated Transport Pty Ltd (in liq); Re [1982] VR 989; Ronan v Australian and New Zealand Banking Group Ltd (2000) 2 VR 531; Smith v Australia and New Zealand Banking Group (1996) NSW ConvR 55-774; Torre v Jonamill [2002] NSWSC 152; Sibbles & Anor v Highfern Pty Ltd (1987) 164 CLR 214; Panebianco v Bendigo Bank [1999] VSC 50 ;…
Integrated Computer Services Pty Ltd v Digital Equipment Corp (Aust) Pty Ltd [1992] NSWCA 168
Citation 13 (Para 1)

…Traders Insurance Co Ltd v Savoy Plaza Pty Ltd [1993] 2 VR 343 at 350 per Brooking J; Fountain v Bank of America National Trust & Savings Association (1992) 5 BPR 11,817 at 11,820 per Gleeson CJ; Estoril Investments Pty Ltd v Westpac Banking Corporation, supra Footnote 10; Smith v Australia and New Zealand Banking…
David Securities Pty Ltd v Commonwealth Bank of Australia [1992] HCA 48
Citation 14 (Para 1)

…v Comptroller of Stamps (Vic) (1983) 84 ATC 4097 at 4100 per Tadgell J; David Securities Pty Ltd v Commonwealth Bank of Australia (Swiss Franc case) (1992) 175 CLR 353.…
Bahr v Nicolay (No 2) [1988] HCA 16
Citation 15 (Para 1)

…R 536 at 547. [74][1905] AC 176. [75]See Russo v Bendigo Bank Ltd [1999] 3 VR 376 at paragraphs 26 to 30 per Ormiston JA. [76] Bahr v Nicolay (No. 2) (1988) 164 CLR 604 at 614 per Mason CJ and Dawson J; Latec Investments Ltd v Hotel Terrigal Pty Ltd (in liq) (1965) 113 CLR 265 at 273 per Kitto J. [77] Pyramid Buildin…
Sibbles v Highfern Pty Ltd [1987] HCA 66
Citation 16 (Para 1)

…VR 531; Smith v Australia and New Zealand Banking Group (1996) NSW ConvR 55-774; Torre v Jonamill [2002] NSWSC 152; Sibbles & Anor v Highfern Pty Ltd (1987) 164 CLR 214; Panebianco v Bendigo Bank [1999] VSC 50 ; McVeigh, in the matter of Piccolo v National Australia Bank Ltd [2000] FCA 187; Commonwealth Bank of Austr…
Heid v Reliance Finance Corporation Pty Ltd [1983] HCA 30
Citation 17 (Para 1)

…il v Lapin (1934) 51 CLR 58; Latec Investments Ltd v Hotel Terrigal Pty Ltd (in liq) , supra Footnote 76; Heid v Reliance Finance Corporation Pty Ltd (1983) 154 CLR 326.…
Codelfa Construction Pty Ltd v State Rail Authority of New South Wales [1982] HCA 24
Citation 18 (Para 1)

…documents the bank had no intention to extend any other facility to the mortgagor. [24] Codelfa Construction Pty Ltd v State Railway Authority (NSW) (1982) 149 CLR 337 at 348; FAI Insurance Ltd v Savoy Pty Ltd, supra Footnote 16 at 350 per Brooking JA.…
DTR Nominees Pty Ltd v Mona Homes Pty Ltd [1978] HCA 12
Citation 19 (Para 1)

…se permitting reference to such conduct for the purpose of the construction of the parties' agreement in 1997. [18] DTR Nominees Pty Ltd v Mona Homes (1978) 138 CLR 423; Thornley v Tilley (1925) 36 CLR 1; Farmer v Honan (1919) 26 CLR 183; Sinclair Scott & Co Ltd v Naughton (1929) 43 CLR 310; White v Australian & New…
National Bank of Australasia Ltd v Mason [1975] HCA 56
Citation 20 (Para 1)

…uitable interests became first in time. Neither case to which the purchasers referred establishes the proposition upon which the purchasers rely. [26](1975) 133 CLR 191. [27][1948] VLR 297.…
Consul Development Pty Ltd v DPC Estates Pty Ltd [1975] HCA 8
Citation 21 (Para 1)

…significance[112] described by Gibbs CJ as 'moral obtuseness' in Consul Development Pty Ltd v DPC Estates Pty Ltd .[113] [112]Supra Footnote 33. [113](1975) 132 CLR 373 at 378.…
Latec Investments Ltd v Hotel Terrigal Pty Ltd (In liq) [1965] HCA 17
Citation 22 (Para 1)

…Ormiston JA. [76] Bahr v Nicolay (No. 2) (1988) 164 CLR 604 at 614 per Mason CJ and Dawson J; Latec Investments Ltd v Hotel Terrigal Pty Ltd (in liq) (1965) 113 CLR 265 at 273 per Kitto J. [77] Pyramid Building Society (in liq) v Scorpion Hotels Pty Ltd [1998] 1 VR 188. [78]Supra Footnote 75. [79]Supra Footnote 75 at…
IAC (Finance) Pty Ltd v Courtenay [1963] HCA 64
Citation 23 (Para 1)

…estate had been vested in it. See City Mutual Life Assurance Society Ltd v Lance Creek Meat Works [1976] VR 1. [2] I.A.C. Finance Pty Ltd v Courtenay (1963) 110 CLR 550 at 572 per Kitto J; Swanston Mortgage Pty Ltd v Trepan Investment Pty Ltd & Ano r [1994] 1 VR 672 per Brooking J; Bradbrook, Adrian J. et al , (1977)…
Tallerman & Co Pty ltd v Nathan's Merchandise (Victoria) Pty Ltd [1957] HCA 10
Citation 24 (Para 1)

…to operate as security for the further advances to be made under the new agreement. [25] Tallerman & Co Pty Ltd v Nathan's Merchandise (Vic) Pty Ltd (1957) 98 CLR 93; Federal Commissioner of Taxation of the Commonwealth of Australia v Sara Lee Household & Body Care (Australia) Pty Ltd (2000) 201 CLR 520; Scarel Pt…
White v Australian and New Zealand Theatres Ltd [1943] HCA 6
Citation 25 (Para 1)

…ey (1925) 36 CLR 1; Farmer v Honan (1919) 26 CLR 183; Sinclair Scott & Co Ltd v Naughton (1929) 43 CLR 310; White v Australian & New Zealand Theatres (1943) 67 CLR 266; Schenker & Co (Aust) Pty Ltd v Malpas Equipment [1990] VR 834; FAI Insurance Co. Ltd v Savoy Pty Ltd ,, supra Footnote 16 at 347.…
English Scottish and Australian Bank Ltd v Phillips [1937] HCA 6
Citation 26 (Para 1)

…ections 3(1) and 74(2) Transfer of Land Act 1958; See also Partridge v McIntosh (1933) 49 CLR 453 and English Scottish and Australian Bank v Phillips (1937) 57 CLR 302.…
Abigail v Lapin [1934] UKPCHCA 1
Citation 27 (Para 1)

…interest was acquired with notice, both actual and imputed, of the purchasers' interests arising from their contracts of sale. [119] Abigail v Lapin (1934) 51 CLR 58; Latec Investments Ltd v Hotel Terrigal Pty Ltd (in liq) , supra Footnote 76; Heid v Reliance Finance Corporation Pty Ltd (1983) 154 CLR 326.…
Partridge v McIntosh & Sons Ltd [1933] HCA 38
Citation 28 (Para 1)

…r an estate in the land. See section 18(1) Property Law Act 1958 and sections 3(1) and 74(2) Transfer of Land Act 1958; See also Partridge v McIntosh (1933) 49 CLR 453 and English Scottish and Australian Bank v Phillips (1937) 57 CLR 302.…
Sinclair, Scott & Co Ltd v Naughton [1929] HCA 34
Citation 29 (Para 1)

…nees Pty Ltd v Mona Homes (1978) 138 CLR 423; Thornley v Tilley (1925) 36 CLR 1; Farmer v Honan (1919) 26 CLR 183; Sinclair Scott & Co Ltd v Naughton (1929) 43 CLR 310; White v Australian & New Zealand Theatres (1943) 67 CLR 266; Schenker & Co (Aust) Pty Ltd v Malpas Equipment [1990] VR 834; FAI Insurance Co. Ltd v…
Thornley v Tilley [1925] HCA 13
Citation 30 (Para 1)

…t for the purpose of the construction of the parties' agreement in 1997. [18] DTR Nominees Pty Ltd v Mona Homes (1978) 138 CLR 423; Thornley v Tilley (1925) 36 CLR 1; Farmer v Honan (1919) 26 CLR 183; Sinclair Scott & Co Ltd v Naughton (1929) 43 CLR 310; White v Australian & New Zealand Theatres (1943) 67 CLR 266;…
Farmer v Honan [1919] HCA 13
Citation 31 (Para 1)

…ction of the parties' agreement in 1997. [18] DTR Nominees Pty Ltd v Mona Homes (1978) 138 CLR 423; Thornley v Tilley (1925) 36 CLR 1; Farmer v Honan (1919) 26 CLR 183; Sinclair Scott & Co Ltd v Naughton (1929) 43 CLR 310; White v Australian & New Zealand Theatres (1943) 67 CLR 266; Schenker & Co (Aust) Pty Ltd v Ma…
Barry v Heider [1914] HCA 79
Citation 32

…[46] Phillips v Martin (1890) 11 LR (NSW) L 153; Barry v Heider & Anor (1914) 19 CLR 197 at 213 per Isaacs J; Matzner v Clyde Securities Ltd, supra Footnote 41; Sussman & Anor v AGC Advances Ltd & Anor [1995] 37 NSWLR 37.…
Phillips v Phillips [1995] HCATrans 319
Citation 33

…holder of an equitable interest, he has chosen to acquire a rival one from a person who in the eye of equity is not entitled to create that interest: Phillips v Phillips (1861) 4 De G.F.& J. 208; 45 ER 1164. He then comes before a Court of equity claiming that the very conflict he has chosen to create should be resolved in h…
Scarel Pty Ltd v City Loan & Credit Corporation Pty Ltd [1987] FCA 234
Citation 34 (Para 1)

…98 CLR 93; Federal Commissioner of Taxation of the Commonwealth of Australia v Sara Lee Household & Body Care (Australia) Pty Ltd (2000) 201 CLR 520; Scarel Pty Ltd v City Loan & Credit Corporation Pty Ltd (1986) 4 BPR 9226.…
Commonwealth Bank of Australia v Aspenview Productions and Ors [2001] VSC 444
Citation 35 (Para 1)

…C 50 ; McVeigh, in the matter of Piccolo v National Australia Bank Ltd [2000] FCA 187; Commonwealth Bank of Australia v Aspenview Productions Pty Ltd [2001] VSC 444. [6]Supra Footnote 5. [7]Supra Footnote 5. [8]Supra Footnote 5. [9]Supra Footnote 5.…
Phillips v Martin (New South Wales) [1890] UKPC 1
Citation 36

…[46] Phillips v Martin (1890) 11 LR (NSW) L 153; Barry v Heider & Anor (1914) 19 CLR 197 at 213 per Isaacs J; Matzner v Clyde Securities Ltd, supra Footnote 41; Sussman & Anor v AGC Advances Ltd & Anor [1995] 37 NSWLR 37.…

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