The Court held that a debt collection costs clause (cl 30) in a standard residential building contract survived termination, such that post-termination costs of recovering amounts under the contract were secured by the contractual equitable charge (cl 27), having regard to the commercial purpose of the clause and the structure of the contract placing it among provisions plainly intended to operate post-termination. Costs assessments registered as judgments were held to satisfy the requirement in cl 27 and s 7D(3)(c) of the Home Building Act for an order of a court or tribunal. A broadly-drafted charge over all assets of private individuals under a litigation funding deed was construed as not creating an immediate proprietary interest in any particular asset, but rather as a security interest attaching only upon expiry of the repayment term, given the impracticability of preventing the chargors from dealing with any personal property for the five-year term. The Court confirmed that appointment of receivers with power of sale is an appropriate remedy to enforce an equitable charge over land, but declined to make final receivership orders in the form proposed, identifying deficiencies including the absence of specified powers, remuneration provisions, and proper consent from proposed receivers.
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