Voukidis v C & O Voukidis Pty Ltd (in liq)

IN THE SUPREME COURT OF VICTORIA Not Restricted

AT MELBOURNE

COMMERCIAL COURT

S ECI 2017 00141

PETER VOUKIDIS	First Plaintiff
KATHY VOUKIDIS	Second Plaintiff
v
C & O VOUKIDIS PTY LTD (ACN 064 963 054) (IN LIQUIDATION)	Defendant

---

JUDGE:	SLOSS J
WHERE HELD:	Melbourne
DATES OF HEARING:	25, 26, 27 and 28 September, 5 and 6 October 2017
DATE OF JUDGMENT:	24 May 2018
CASE MAY BE CITED AS:	Voukidis and Anor v C & O Voukidis Pty Ltd (in liq)
MEDIUM NEUTRAL CITATION:	[2018] VSC 267

---

CONTRACT – Written agreement for loan and mortgage – Authenticity of written agreement disputed by defendant – Whether document prepared and executed on date it bears.

MORTGAGES AND SECURITIES – Equitable mortgage – Intention to enter mortgage agreement – Whether transfer of interest in property unequivocally referable to a contract of the nature alleged.

MORTGAGES AND SECURITIES – Equitable lien – Indebtedness – Oral agreement or arrangement not adequately pleaded – Indebtedness claim unsubstantiated in any event – No unconscientiousness established.

EQUITY – Trusts – Implied trusts – Resulting trusts – Transfer of property interest to corporate trustee of family trust for no consideration – Whether presumption of resulting trust arose – Presumption precluded by Conveyancing Act 1919 (NSW) s 44(1) – Whether resulting trust established on the evidence – Whether plaintiffs demonstrated an intention to retain beneficial ownership following the transfer.

---

APPEARANCES:	Counsel	Solicitors
For the Plaintiffs	Mr L C Hogan	Eales & Mackenzie (Town Agents for Spinks Eagle Lawyers)
For the Defendant	Mr P W Collinson QC and Ms E Dias	Sinisgalli Foster (until 5 April 2018, Foster Nicholson Lawyers)

TABLE OF CONTENTS

Introduction........................................................................................................................................ 1

The 60 Belmore Street property.................................................................................................. 2

Acquisition of the 60 Belmore Street property by the defendant.......................................... 4

Sale of the 60 Belmore Street property in 2012 by the security holder.................................. 7

Claims to the Belmore Street proceeds...................................................................................... 7

Plaintiffs first notified the Liquidator of their claim in October 2016................................... 7

Plaintiffs commenced this proceeding in June 2017................................................................ 9

The defendant contends the 12 February 2003 letter was a ‘fraudulent fabrication’.......... 9

Witnesses called on behalf of the plaintiffs............................................................................. 12

Witness called on behalf of the defendant.............................................................................. 12

Issues to be determined by the Court.......................................................................................... 12

Agreed position concerning historical ownership of 60 Belmore Street, Burwood by Voukidis family............................................................................................................................................ 13

The plaintiffs’ case at trial was conducted on basis that they held a one half interest in the 60 Belmore Street property....................................................................................................... 15

Evidence adduced on behalf of the Plaintiffs............................................................................ 16

Evidence given by Peter Bouzanis............................................................................................ 16

Family relationship with Peter and Kathy Voukidis.................................................... 16

Events in February 2003................................................................................................... 17

Events of June 2015............................................................................................................ 22

Observations on Mr Bouzanis as a witness................................................................... 25

Evidence given by Peter Voukidis............................................................................................ 26

The events of February 2003............................................................................................ 26

Subsequent events............................................................................................................. 30

The curl at the end of Peter Voukidis’ signature.......................................................... 31

Increase of the AMP loan facility in August 2009......................................................... 33

Tax returns.......................................................................................................................... 35

Pension application........................................................................................................... 36

Observations on Peter Voukidis as a witness................................................................ 39

Evidence given…