The plaintiff sought to develop land into residential lots. The first defendant provided the money to do so and took a mortgage over the land. The plaintiff acquired various development approvals but plaintiff defaulted on the mortgage prior to commencing development. Therefore, the defendant exercised their right of sale as mortgagee but the plaintiff alleged that the defendant failed to take proper care as required in exercising their power of sale mainly due to a failure to properly advertise the property as having development approval.
In these proceedings, the plaintiff sought summary judgment, claiming the defendants had no reasonable prospect of defending the claim.
Kristi Riedel appeared for the first and second defendant, instructed by King & Wood Mallesons.
The judgment is available here.
