Capital Securitisation v Jammal [2007] NSWSC 1073

The lender originally advanced $500k. Later the parties negotiated an additional advance of $900k together with additional security. Unfortunately neither party used lawyers and the security documents were seriously flawed. The lender sought rectification of the imperfect mortgage, while the borrowers claimed that the additional security was not intended to be given or alternatively that it related to a further advance which was never made. The court believed the lender’s version of events and rectified the mortgage and granted possession of the disputed securities to the lender.

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