The bank holding a first mortgage sought possession form the holder of the third mortgage. The third registered mortgagee had been making repeated assurances about a sale proceeding for more than 12 months, while living in the property.
The judge noted:
While the bank was initially prepared to allow the respondent to seek to sell the property, it quite properly took the view, in February 2012, that the respondent was simply endeavouring to delay matters.
The judge granted the bank possession noting that even if the supposed sale was real, settlement could not occur because a release could not be given by the second registered mortgagee, a deregistered company.