Westpac went to lodge their mortgage only to find that a caveat lodged after they settled blocked registration. The caveat protected a mortgage created before the Westpac mortgage was advanced. The court considered the rules applying to priority competition between equitable interests: To determine priority between competing equitable interests, where the merits are equal, the …
A solicitor held a charge over the property of his former clients as security for payment of fees. The property was subject to a first registered mortgaged. A subsequent purchaser of the property granted a mortgage to their bank (“the Bank”). A discharge of the first mortgage was exchanged at settlement. When the solicitor became …
In this case a large a sum of money was stolen from Westpac. Some of that money was used by the fraudster to pay out another lender’s mortgages. In previous proceedings Westpac had successfully obtained orders that it had a charge (similar to a mortgage) over the property by virtue of having supplied the discharge …
This was a notice of motion seeking a declaration that the Plaintiff was entitled to have the Plaintiff’s Lease registered in priority to the mortgage between Global Minerals Australia Pty Limited as borrower and Ostabridge Pty Ltd (in Liquidation) (Receiver and Manager Appointed) and Kevin Richard Shirlaw as lenders. Two issues were in contention. One …
