Waller v Hargraves Secured Investments [2010] NSWCA 300

The loan was a farm debt secured by a farm mortgage pursuant to the Farm Debts Mediation Act. After the loan fell into default the parties participated in a mediation following which a s11 certificate was issued. The parties subsequently entered into two additional loan agreements, the sums advanced being secured by the existing mortgage. The trial judge held (which was approved on appeal) that a s11 certificate is issued in relation to a farm mortgage, not the debt as may be varied and secured by it from time to time. Accordingly, the lender was entitled to enforce the second and third loan agreements without again pursuing the mediation procedure.

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