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In Pham v Enterprise ICT, Mr Sebie entered into a contract to sell his property. Mr Sebie failed to complete the contract and the purchasers sought specific performance of the contract. The purchasers had lodged a caveat over the property. Mr Sebie, without notice to the purchasers, dishonestly removed the caveat and transferred the property to Enterprise ICT Pty Ltd, the sole director of which was Mr Sebie. The Court held that the transfer to Enterprise ICT was fraudulent under sections 42, 43 of the Real Property Act 1900 (NSW). The Court ordered that Mr Sebie pay compensation to the purchasers for the cost they incurred of renting a house during the dispute, that the registration of title in the name Enterprise ICT be set aside, and the original contract be performed.

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