Power of Sale

Bridgecorp Finance v Judith Comer [2005] NSWSC 225

This was an application for summary judgement brought by the lender as second registered mortgagee. Neither the cause of action nor the facts which supported it were fully set out in the judgement. It appears that it was an action for sale of the mortgaged property by the second registered mortgagee which was opposed by …

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Tekinvest v Lazarom [2004] NSWSC 940

This was an application by a borrower for an interlocutory injunction restraining a lender from exercising a power of sale. The Plaintiff was the registered proprietor of a commercial site at Granville (“the Property”). The Plaintiff purchased the Property from the Defendant in December 2001 for $1,928,000. The purchase price was payable as to $1,000 …

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Ultimate Property Group v Lord [2004] NSWSC 114

A company mortgaged property to a Bank (“the lender”). The mortgage was also guaranteed by a number of other parties. When the loan subsequently fell into arrears, the lender appointed a controller to manage the mortgaged property. Shortly thereafter, the property was sold by the controller at an auction for an amount, which was less …

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