Elfar was the lender and held a second registered mortgagee over the development property owned by the defendant company. Elfar alleged that there had been a fraudulent discharge of the lender’s second mortgage. As a result of registration of the discharge from Elfar was deprived of his security as second mortgagee. A receiver had been …
Elfar v Registrar General of NSW [2010] NSWSC 539 Read More »
In this case a borrower sold his Rose Bay property for $1.5 million without first checking the payout figure on the mortgage, which was greater than the purchase price. One week before the contract was due to complete the borrower’s solicitor wrote to the purchaser’s solicitor explaining the problem and requesting an increase in the …
In this case the security property was encumbered by a first and second registered mortgage. The mortgagor was placed into administration and the administrator sold the property for a figure apparently above its market value. The administrator obtained consent from the first mortgagee, ING, for the sale but not the second mortgagee. In earlier proceedings …
In this case there was a first and second mortgage. The borrower sought an order that upon payment into Court of a bank guarantee for $250,000 the second mortgagee be ordered to provide a discharge of mortgage. The Court held that in the absence of the borrower establishing the second mortgage secured nothing the court …
In this case the lender is applying to set aside a previous dismissal of proceedings and also extend the operation of a caveat. The lender claims an interest under a mortgage dated 10 October 2002. Justice Brereton agreed to set aside the dismissal of proceedings as both parties did not attend and therefore this suggests …
Gippsreal v Garner Transport & Haulage [2006] NSWSC 1229 Read More »
The Plaintiff was the Executor of the Estate of the late Nick Angelidis (also known as “Agelidis”). The Plaintiff sought a determination: “… pursuant to Conveyancing Act s98(1) that all amounts due under mortgage registered number J282727 with Nick Agelidis as mortgagor and Sam Giannikis and Michael Manettas as mortgagees have been paid.” No person …
Sotiropoulos – Estate Nick Angelidis [2004] NSWSC 1184 Read More »
This was an application for discharge of order under s 27 of the Judgment Creditors’ Remedies Act 1901. The applicant, Toni Rogers, moved on notice for an order pursuant to s 32 of the Judgment Creditors’ Remedies Act 1901 (the Act) discharging the order made pursuant to s 27(1) of the Act by Acting Deputy …
This case concerned whether a lenders’s costs of defending a suit to set aside mortgage were a contingent liability of the borrower secured by the mortgage and whether a borrower was obliged to provide security for contingent liability in order to obtain discharge. The Plaintiff (“Liberty”) was the lender of a property owned by the …
Liberty Funding v Steele-Smith [2004] NSWSC 1100 Read More »
In this case, the borrower approached the bank to obtain finance for the construction and operation of a shopping centre. A three year loan was given to the borrower under which the borrower agreed to mortgage its interest in the land on which the shopping centre was built. However, it was discovered shortly thereafter that …
Illawong Village v State Bank of NSW [2004] NSWSC 18 Read More »
