Sterling & Freeman Advisory Pty Ltd v Callisi Pty Ltd
Court of Appeal
Ferguson CJ, Kennedy and Lyons JJA
23/05/2024
[2024] VSCA 105
Equity — Securities — Marshalling — Apportionment — First-ranking mortgagee exercised rights over one property and discharged first-ranking mortgage over another — Discharge rendered interest of second-ranking mortgagee valueless — No fund under control of the Court — Whether second-ranking mortgagee entitled to marshalling by apportionment
Practice and procedure — Appeal — New point not raised below — Whether exceptional circumstances
Read the judgment here.