Balanced Securities v Owston Nominees [2011] NSWSC 1230

A mortgagee lent monies to a company and the company defaulted. The company is in liquidation and the former director of the company is bankrupt. The lender seeks orders for possession of land.

The court was satisfied that the persons occupying the property were served with the requisite notice of these proceedings, any tenancy agreement is now terminated and in any event, the trustee in bankruptcy has disclaimed any lease that may have existed pursuant to section 133 of the Bankruptcy Act (and this is not affected by any later annulment of the bankruptcy by virtue of section 154(1)(a) of the Bankruptcy Act), the mortgagor has defaulted and the mortgagee is entitled to possession so that it can effect a sale of the property. 

The court ordered possession and granted leave for a writ to be issued.

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