Westpac v Body Corporate for the Wave Community [2014] QCA 73

A lender in possession sold the debtor’s property and then the body corporate sought its unpaid levies and costs of recovery from the lender. The lender paid the unpaid levies but not the costs of recovery.

The court held that under s 143(3) of the Body Corporate and Community Management Regulation 2008 (Qld), Westpac as mortgagee in possession was liable for recovery costs, notwithstanding that recovery costs were incurred before the bank became the mortgagee in possession. The court noted the complication that the lender was not permitted to enforce sooner because of the FOS terms of reference, however it was held this could have no bearing on the interpretation of the Regulation.

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