The bank obtained a money judgment and possession. The borrowers failed to pay and sought a stay the day before the writ was due for execution until his cross-claim could be heard.The cross-claim concerns a damages claim for sale at what is said to be an under value of other property sold by the bank. …
National Australia Bank v Sayed (No. 3) [2015] NSWSC 1473 Read More »
The lender obtained default judgment. The borrowers failed to have it set aside, but were given at least two months’ to vacate before the writ could be executed. When the lender sought to take possession four months later, the borrowers claimed they did not get any correspondence indicating when the writ of possession would be …
The borrower defaulted on loan agreements after a restraining order had been made against all of his property under the Criminal Proceeds Confiscations Act. The borrower had previously been given consent to sell the security property to a company, although his wife turned out to be the sole director and shareholder of that company. In …
In this matter there had been a writ of possession issued to the lender, but eviction had been stayed for three months to allow the daughter of the borrowers to purchase the security property. The stay was on condition that the borrowers make the minimum monthly loan repayments each month. The borrowers defaulted on the …
The lender was seeking possession. The borrower was made bankrupt ten days before the matter was decided, and his trustee in bankruptcy was substituted for him as a party to the court proceedings. The issue in the proceedings was whether the Court could proceed to grant judgment for possession in circumstances where the borrower was …
A property was sold conditional upon registration of a subdivision. A large deposit was paid (the repayment of which should subdivision not take place was secured by a mortgage). The subdivision never went through and the mortgagee (the erstwhile purchaser) sought possession from the mortgagor (the erstwhile vendor). The vendor argued that the purchasers should …
This was “a last ditch attempt by the executor to save a valuable family asset” according to the judge. The lender had claimed possession of secured land because the executors of a deceased estate were in default under the mortgage. The court had given the lender possession in May 2011 by default judgment. However the …
Dimitrovski v Australian Executor Trustees [2013] NSWSC 337 Read More »
The farm had been in the family for five generations. Following breach of an agreement resulting from a farm debt mediation, the bank obtained default judgment for possession. The borrowers then sought to have the judgment set aside and to file an amended defence on the grounds there had been a breach of code of …
National Australia Bank v Priestley [2012] NSWSC 1611 Read More »
The borrower defaulted on his mortgage with the lender taking possession of the rural property to exercise its power of sale. The purchaser refused to consent to the borrowers request that the secured land be subdivided in order to possibly achieve a better sale. The lender sold the property as one lot for a short …
The borrower defaulted on a mortgage and was served with two invalid s57 (2)(b) notices by the lender. Despite the invalid notices, the lender obtained a writ of possession in undefended proceedings. Prior to selling the properties, the borrower put the lender on notice that their invalid notices would be challenged if the lender sold …
