Terranova v Secure Funding [2015] WASCA 229

We have previously reported on this case. The trial judge found that the commercial lender’s security ranked ahead of the borrower’s parent’s security on the proper construction of the deed of priority. The parents appealed.

The Court of Appeal agreed with the trial judge that the commercial lender was entitled to priority for the amount secured by the mortgage which was defined in the mortgage to mean all amounts due under the loan including all fees and charges.

The appeal was dismissed.

Click here to read the full judgement

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