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The High Court has granted an interlocutory injunction to prevent the sale or marketing of a property with a long-standing family-operated drapery business, pending further order. The court found serious issues to be tried regarding the transparency of the redemption figure provided to the plaintiff, the accounting for proceeds from a related property sale, and rental income. The court determined that damages would not be an adequate remedy for the plaintiff due to the personal and familial connection to the property, outweighing the defendants' purely financial interest. The injunction was granted with express liberty to apply, should circumstances change, and costs were provisionally awarded to the plaintiff.
interlocutory injunction, family business, property rights, equity of redemption, mortgagee obligations, Land and Conveyancing Law Reform Act 2009, serious issue to be tried, balance of justice, damages as a remedy, transparency in accounting, redemption figure, rental income, proceeds of sale, emotional investment, inter-generational attachment, liberty to apply, costs.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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