Solid Holdings v IMFML Finance [2008] NSWSC 573

In this case the borrower sought an injunction to stop the lender exchanging contracts. The borrower conceded the lender had the power to sell (having properly served a s57(2)(b) notice) and there was no argument that the sale was being conducted improperly. Accordingly the borrower was obliged (on the basis of an old common law rule) to pay the debt into Court if he wanted an injunction. The borrower could not do this so the injunction was denied.

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