Kennard, C.C. & Anor v AGC (Advanced) Ltd & Anor [1986] FCA 570

IN THE FEDERAL COURT OF AUSTRALIA } QUEENSLAND DISTRICT REGISTRY ) QLD G67 of 1986 GENERAL DIVISION )

BETWEEN: CHRISTOPHER CAMPBELL KENNARD and MARGARET BETH KENNARD

Applicants AND: A.G.C. (ADVANCES) LIMITED

First Respondent

AND: SYDNEY FRANCIS DEMPSTER and KRYSTYNA EMILIA DEMPSTER

Second Respondents

AND: A.G.C, (ADVANCES) LIMITED

Cross Claimant

AND: CHRISTOPHER CAMPBELL KENNARD and MARGARET BETH KENNARD

Cross Respondents

MINUTES OF ORDER

JUDGE MAKING ORDER: PINCUS J. DATE OF ORDER: 28 NOVEMBER 1986 WHERE MADE: BRISBANE

THE COURT ORDERS THAT: On the first respondent's undertaking not to assign or otherwise

deal with its interest as mortgagee in Bill of Mortgage No.

C513523,

(1) The said Bill of Mortgage be varied by addition of the

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following clause:

"Notwithstanding anything herein contained:

(i) the mortgagee shall bring no suit nor take any other step to enforce any personal liability of Christopher Campbell Kennard and/or Margaret Beth Kennard hereunder but may take any other step available to 1t as mortgagee hereunder;

(11) any sum accruing to the mortgagee in consequence of a sale of the mortgaged property shall (after deduction of any reasonable expenses of sale) be held by it as to one-half for Christopher Campbell Kennard and Margaret Beth Kennard and paid to them on demand."

(11) The first respondent not execute a contract for sale of the land subject to the said mortgage or submit the same for sale by public auction without, in the former case, giving the applicants seven days written notice of its intention to do so and the price and terms, and, in the

latter case, giving the applicants seven days written

notice of its intention to do so and the reserve price.

(i1i) The first respondent pay the costs of the applicants of and incidental to these proceedings, including reserved