Federal Court of Australia
Not ror distribution
IN THE FEDEPSL COuUPT OF AUSTPSETS QUEENSLAND DISTRICT PEGISTRY
GENERAL DIVISTON
OLD. G123
oO
f 1987
-~ we wee
BETWEEN :
JTONA_ INVESTMENTS PTY. LTD. AS TRUSTER or THE FEROS INVESTMENT TRUST
Applicant AND: TPICONTINENTAL CORPORATION LIMITED First Respondent AND: JONES LANG WOOTTON second Pespondent vey ma, ry as \ SPENTEP J. A
SELSEAE '€NOVI987 =|
£2! COURT OF A A
19 SUGUST, 1987.
PESSONS FOP JUDGMENT
LIN a In this matter the applicant sseks an interlccutor injunction. Trt seek3 an order against 'the respondents
restraining them by their servants and/or agents until further order from advertising for sale in any manner whatscever tne
premises known as the Bell Centre, Toowoomba, in the State 2f
Queensland.
As appears from the affidavit of Mr. Craig Andrew
Jensen, the solicitor for -the applicant, Jiona Investments
Pty.Ltd. ("Jiona Investments") is the registered proprietor of certain land in Bell Street, Toowoomba. That property was purchased originally with a view to the construction of an office tower and commercial centre. In order to finance development the
applicant obtained a commercial bill facility from the first cespondent in the sum of $7.875m. As part of its securit:7 in cespect of that facility, Tricontinental Corporation Simited ("Tricontinental Corporation") obtained a first registered biil of encumbrance over the property as well as additional securities and guarantees from a large number of corporate enrities and
individuals.
It appears that an interest payment pursuant to 'tnat
facility was due by the arplicant to Tricontinental on? Jul:
1987 and chat payment of $150,900 was not made on that aate. on 1S Jule i987, a notice of default soursuant to 3.344 of che
Property Law Act was delivered to Jiona Investments. Smongst
other things 1t gave notice that:-
"Unless within thirty days of service upon you this Notice the said default 1s remedied AND ADDITION, further interest accruing to the date payment 13 paid the Mortgagee may proceed to the land and exercise all or any of the o powers conferred by the Mortgage and the Prop Law Act 1974-1985 (as amended)."
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