Federal Court of Australia
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CATCHWORDS
TRADE PRACTICES - consumer protection - interlocutorv relief - discussions about whether respondent would exercise its securitv
over applicant's land - whether misleading and deceptive -
balance of convenience.
Trade Practices Act 1974 s.52
SCAREL PTY. LIMITED v CITY LOAN AND CREDIT CORPORATION PITY. LIMITED
No.G513 of 1986
FOX J. SYDNEY
27 NOVEMBER 1986
IN_THE FEDERAL COURT OF AUSTRALIA
) ) NEW SOUTH WALES DISTRICT REGISTRY ) No.G513 of 1986 ) GENERAL DIVISION )
SCAREL PTY. LIMITED Applicant AND:
CITy LOAN AND CREDIT CORPORATION PTY. LIMITED
Respondent MINUTE OF ORDER JUDGE: FOX J. DATE _OF ORDER: 27 NOVEMBER 1986 WHERE MADE: Svdnev. THE_COURT ORDERS THAT: 1. The application for interlocutorv relief be dismissed
with costs.
Note: Settlement and entrv of orders is dealt with in Order 36 of the Federal Court Rules.
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IN_THE FEDERAL COUPT OF ANSTPALIA
a is] i) m rv Ww iP) th Im 9) i) in
NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISTON BETWEEN :
SCAREL PTV. LIMITED Applicant AND:
CITY LOAN AND CREDIT COPPOPATION PTY, LIMITED
Respondent
CORAM: FOX J.
DATE: 27 NOVEMBER 1986
REASONS FOP JUDGMENT
These are interlocutory proceedinas toa restrain a mortaagee's sale. The applicant is the registered proprietor of rand at Normanhurst and the resvondent holds a first mertaage over it which is reaqistered. The amount stated as secured is $489,750, but there has been continuina default for several vears as a result of which it is said that the amourt now pavable bv "he applicant is $1,403,825.37. The resvondent has qiven notice under $.57(2)'(b) of the Real Proprertv Act 1900 of its intention
fo sell and the sal
i}
has been advertised to take place bv auction
wn
en 4 December next.
The apolicant's case is that arrancements were made,
ameunting probablv to an agreement. between the Managing Director
ef the applicant (Mr, Yates) and Mr. Adelstein as Managing Trrector of the yvresscondent in August 1994 that the resocndent would not exercise its cower of sale over the land bur would inctead be aiven vecurity over iand at Darling Harbour, which was
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