Australian Guarantee Corporation (NZ) Ltd v CFC Commercial Finance Ltd

The principle governing the priority of equitable interests is that they take priority in order of __________.

Date of creation, all other things being equal.

What is the effect of the conduct of parties on the temporal priority of interests?

It can reverse the order of priority under specific circumstances.

The party seeking to reverse the order of temporal priority must bear the __________.

Onus of proof.

AGC's loan was secured by a hire purchase agreement over a __________.

Mercedes Benz motor vehicle.

The amount advanced by CFC to Dante was secured by a __________ over the same property.

Registerable memorandum of mortgage.

AGC lodged a caveat against the title of the land on __________.

23 September 1987.

CFC's mortgage was eventually registered in the __________.

Companies Office Register of Charges.

The ruling established that if the merits are equal, priority in __________ is considered to give the better equity.

Time of creation.

The court determined that the two factors of delay in registering the caveat and failing to obtain the title affected the __________ of equitable interests.

Order of priority.

When seeking equity, a party must also be prepared to __________.

Do equity.

CFC was required to pay AGC an amount of __________ as a condition of declaring its interest priority.

$54,917.87.

Who was the principal shareholder in Dante Holdings Ltd?

Richard Dante Mitri.

The court emphasized the need to analyze the conduct of __________ when determining priorities.

Both parties.

CFC's right to a first charge was initially upheld by the __________ court.

High Court.

AGC’s mortgage was not in __________ form.

Registerable.