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 …
In this case there was a priorities dispute, the situation before the loans went into default was as follows: Rose Bay 1st Mortgage – All monies to NAB 2nd Mortgage – Hill 3rd Mortgage – Across Australia Finance Pyrmont 1st Mortgage – All monies to NAB 2nd Mortgage – Across Australia Finance Rose Bay was …
Across Australia Finance v Kalls [2008] NSWSC 783 Read More »
There is an ancient law of Equity that allows a second mortgagee whose security is sold by the second mortgagee to be granted a second mortgage over any other security the first mortgagee has from the same debtor. This allows a the second mortgagee to collect from the other property if the first mortgagee has …
