Mango Media v Garner Transport & Haulage [2007] NSWSC 712

The lender refused to proceed with a loan because the valuation came in too low. The lender placed a caveat on the property for fees and the borrower sought to have it removed. The Court held in favour of the lender deciding that the following clauses were effective in granting a caveatable interest:

“To secure our above fees and charges and interest thereon until such amounts are paid to us in full you consent to us lodging a caveat on the title to the proposed security property/ies or any other real property in which you have an interest or may at any time in the future acquire an interest.”

“That our fees and expenses, if any, together with interest at the rate prescribed by the rules of the Supreme Court of NSW, will create a caveatable and equitable interest and charge in the proposed security property/ies.”

“To pay all of our legal fees and expenses on a solicitor and client basis incurred in lodging any caveat or in respect to the recovery of any of our fees and expenses and interest thereon. That we are under no obligation to provide a withdrawal of any caveat lodged pursuant to this agreement until such time as all of our fees and expenses and interest thereon and any legal fees and expenses in relation thereto were paid in full.”

Scroll to Top