Perpetual Trustee Company v Agusta [2008] NSWSC 646

In this case Challenger issued a notice to the borrower’s tenant requiring rents be paid to it pursuant to s63 of the Conveyancing Act (this clause allows lenders to collect rents where a mortgage is in default). The borrower sought an injunction suspending the operation of the s63 notice on the basis that it had a seriously arguable case that it was not in default. The Court granted the injunction (the first time the Court has ever suspended a s63 notice) pending hearing of the main dispute between the parties. 

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