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Representation: Solicitors:
Hunts Law (Plaintiffs)
CJ Boyd Solicitors (Defendants)

File Number(s): 2026/00124656

Publication restriction: Nil

JUDGMENT

1. By notice of motion filed with leave on 21 July 2026, the plaintiffs seek summary judgment against the defendants for the claims made in the proceedings. In substance, they seek money judgments arising from three separate loans, together with declarations as to the validity and enforceability of various charges.

2. The proceedings were commenced by summons filed on 26 March 2026. They were commenced on an urgent basis seeking orders extending, until further order of the Court, various caveats that had been lodged by the plaintiffs over the land owned by each of the defendants.

3. The proceedings have been before the Court on a number of occasions.

4. On 2 April 2026, leave was granted to the plaintiffs to file and serve an amended summons. On that day orders were made pursuant to s 74K(2) of the Real Property Act 1900 (NSW), extending the operation of the caveats lodged by the plaintiffs until further order of the Court.

5. At all times, the defendants have been represented in the proceedings. Directions have been made on a number of occasions for the defendants to file and serve the evidence on which they seek to rely. No substantive evidence has been filed on behalf of the defendants. On 19 June 2026, I made orders extending the time for the defendants to file and serve any evidence on which they propose to rely to 1 July 2026, and made a guillotine order that the defendants not be permitted to rely on any evidence served after that date, without leave of the Court.

6. On 10 July 2026, I granted leave to the plaintiffs to file a motion for summary judgment, returnable on 17 July 2026. No such motion was filed on that day. On 16 July 2026, I made orders by consent in chambers that such motion be filed and served by 21 July 2026, returnable on 24 July 2026.

7. On return of the motion on 24 July 2026, Mr Paul Hunt, solicitor, appeared for the plaintiffs. Mr Tim Bryant, solicitor, appeared for the defendants but indicated that he did not have any instructions to say anything in opposition to the orders sought in the motion.

8. In support of the motion, the plaintiffs relied on an affidavit made by a director of the lender(s) under each of the relevant loans together with an affidavit of Mr Hunt in which he expresses the opinion that there is no defence to the claims.

9. As set out above, no evidence was filed by the defendants and no submissions were made in opposition to the orders sought in the motion.

10. The evidence clearly establishes that on 4 November 2024:

(a) a document entitled “Deed of Indebtedness and Forbearance” was entered into by the first and second plaintiff, Great Mountain Holdings Pty Ltd and Gala Development Pty Ltd and the defendants (G&G Deed); (b) a document entitled “Indebtedness and Forbearance” was entered into by the third plaintiff, YYDS Partners and the defendants (YYDS Deed); and (c) a document entitled “Deed of Indebtedness and Forbearance” was entered into by the fourth plaintiff, YYDS Partners No 1 Pty Ltd and the defendants (YYDS 1 Deed).

11. The G&G Deed recorded that:

(a) the first defendant was indebted to the first and second plaintiffs in the amount of $1 million for monies lent by the first and second plaintiffs to the first defendant (Loan Amount); (b) the first defendant was indebted to the first and second plaintiffs for services provided by the first and second plaintiffs to the first defendant in the amount of $2,500,000 (Project Margin); (c) the first and second plaintiffs would forbear from calling on repayment of the Loan Amount and payment of the Project Margin until 4 November 2025 (Maturity Date); (d) interest was payable on the Maturity Date by the first defendant to the first and second plaintiffs calculated from 4 November 2024 to the Maturity Date on the Loan Amount at the rate of 10% per annum; (e) interest was payable on the Maturity Date by the first defendant to the first and second plaintiffs calculated from 2 April 2025 to the Maturity Date on the Project Margin at the rate of 15% per annum; (f) the first defendant agreed to indemnify and pay to the first and second plaintiffs all costs and expenses incurred by the first and second plaintiffs in, amongst others, the negotiation, preparation, execution, implementation and enforcement of the G&G Deed on an indemnity basis; (g) in the event of a default in payment of any monies by the first defendant to the first and second plaintiffs, the first defendant would pay interest on any outstanding monies at the rate of 24% per annum; (h) the second to fifth defendants guarantee the obligations of the first defendant; (i) by way of security for the Loan Amount and the Project Martin, the first defendant charged in favour of the first and second plaintiffs their interests in certain land (First Defendant Secured Property); (j) by way of security for the Loan Amount and the Project Margin, the second defendant charged in favour of the first and second plaintiffs their interests in the land in Lot 2 in Deposited Plan X/X (Second Defendant Secured Property); (k) by way of security for the Loan Amount and the Project Margin, the third defendant charged in favour of the first and second plaintiffs their interest in the land in Lot 3 in Deposited Plan X/X (Third Defendant Secured Property); and (l) the agreement of the first and second plaintiffs not to register their interests in the First Defendant Secured Property, Second Defendant Secured Property or Third Defendant Secured Property until after 1 April 2025.

12. The terms of the YYDS 1 Deed were relevantly similar to the G&G Deed. It recorded that the first defendant was indebted to the fourth plaintiff in the amount of $1,116,138 (Loan Amount) for monies lent by the fourth plaintiff to the first defendant. There were similar provisions regarding costs and interest, and security. Again, the second to fifth defendants guaranteed the obligations of the first defendant.

13. The terms of the YYDS Deed were also relevantly similar. The deed recorded that the first defendant was indebted to the third plaintiff in the amount of $484,932 (Loan Amount) for monies lent by the third plaintiff to the first defendant. There were similar provisions regarding forbearance, interest, costs, and for the second to fifth defendants guaranteeing the obligations of the first defendant.

14. Having regard to the unchallenged evidence relied upon by the plaintiffs, the absence of any evidence from the defendants notwithstanding repeated opportunities to file such evidence, and the fact that counsel appearing for the defendants did not oppose the motion, I am satisfied that the defendants have no real prospect of successfully defending the proceedings.

15. The evidence before the Court on the motion comfortably satisfies me that the current total indebtedness in relation to the G&G Deed is $5,656,455.68.

16. In relation to the YYDS 1 Deed, the current total indebtedness is $1,869,835.59. In relation to the YYDS Deed, the current total indebtedness is $817,468.13.

17. There should be judgment in favour of the relevant plaintiff against the defendants for these monetary amounts together with interest from 4 August 2026 at 24% per annum, being the contractually agreed rate.

18. There should also be declarations regarding the validity and enforceability of the charge over the various lands owned by the defendants offered as security under the relevant deeds.

19. Costs should also be awarded on the indemnity basis pursuant to the relevant provisions of the deeds.

20. Accordingly, the Court orders that:

21. Pursuant to rule 13.1 Uniform Civil Procedure Rules 2005 (NSW), judgment for the first and second plaintiffs against the defendants in the sum of $5,656,455.68.

22. The defendants pay to the first and second plaintiffs’ interest on the amount of $5,656,455.68 at the rate of 24% per annum from 4 August 2026.

23. Declares that the first and second plaintiffs hold a valid and enforceable charge over the lands comprised in the folio identifiers set out in the Schedule, securing the obligations of the first to third defendants under the Deed of Indebtedness and Forbearance dated 4 November 2024 between the defendants and the first and second plaintiffs.

24. Pursuant to rule 13.1 Uniform Civil Procedure Rules 2005 (NSW), judgment for the third plaintiff against the defendants in the sum of $817,468.13.

25. The defendants pay to the third plaintiff interest on the amount of $817,468.13 at the rate of 24% per annum from 4 August 2026.

26. Declares that the third plaintiff holds a valid and enforceable charge over the lands comprised in the folio identifiers set out in the Schedule, securing the obligations of the first to third defendants under the Deed of Indebtedness and Forbearance dated 4 November 2024 between the defendants and the third plaintiff.

27. Pursuant to rule 13.1 Uniform Civil Procedure Rules 2005 (NSW), judgment for the fourth plaintiff against the defendants in the sum of $1,869,835.59.

28. The defendants pay to the fourth plaintiff interest on the amount of $1,869,835.59 at the rate of 24% per annum from 4 August 2026.

29. Declares that the fourth plaintiff holds a valid and enforceable charge over the lands comprised in the folio identifiers set out in the Schedule, securing the obligations of the first to third defendants under the Deed of Indebtedness and Forbearance dated 4 November 2024 between the defendants and the fourth plaintiff.

30. The defendants pay the costs of the plaintiffs of the proceedings on an indemnity basis.

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