Naxatu v Perpetual Trustee [2012] FCAFC 163
The rule in Hopkinson v Rolt The second mortgagee in this case invoked the rule the famous rule in Hopkinson v Rolt. The rule states that the priority of a first mortgagee whose mortgage secures all moneys owing by the mortgagor, is relegated to third priority for any further advances made after the first mortgagee …