Kingsway Group Limited (formerly known as Willis & Bowring Mortgage Investments Limited) v Belramoul & Ors [2009] NSWSC 608

New South Wales Supreme Court

CITATION : Kingsway Group Limited (formerly known as Willis & Bowring Mortgage Investments Limited) v Belramoul & Ors [2009] NSWSC 608

HEARING DATE(S) : 29 April 2009, 30 April 2009, 1 May 2009, 1 June 2009

JUDGMENT DATE : 8 July 2009

JUDGMENT OF : Schmidt AJ

CATCHWORDS : MORTGAGES - mortgages and charges generally - rights and liabilities of mortgagor and mortgagee - mortgagee's possession and sale - no claim arising claim under section 420A of the Corporations Act 2001 (Cth) - mortgagee's breach of duty - whether mortgagee failed to act in good faith, unfairly and unconscionable sacrificing the mortgagor's interest in the property - whether mortgagee failed to preserve property - whether mortgagee failed to market property - whether mortgagee failed to engender competition - mortgagee's failures not established - orders sought granted

LEGISLATION CITED : Corporations Act 2001 (Cth) Uniform Civil Procedure Rules 2005

CATEGORY : Principal judgment

Artistic Builders Pty Limited v Elliott and Tuthill (Mortgage) Pty Limited 10 BPR 19,565 Barns v Queensland National Bank Limited and Anor (1906) 3 CLR 925 Commonwealth Bank of Australia v Hadfield [2004] NSWCA 350 Hawkesbury Valley Developments Pty Ltd v Custom Credit Corp Ltd (1994) 8 BPR 15,581 CASES CITED : Jenkins v National Australia Bank Limited [1999] VSCA 3 Jeogla Pty Ltd v Australia and New Zealand Banking Group Ltd (1999) 150 FLR 359 Pendlebury v The Colonial Mutual Life Assurance Society Ltd (1912) 13 CLR 676 Reinehr Industrial Lease and Finance Pty Ltd v Jordan (Unreported NSWCA, 4 June 1974, Street ACJ, Hardie and Glass JA) Westpac Banking Corporation v Kingsland (1991) 26 NSWLR 700