Lending

In ProLend Solutions No 50 Pty Ltd v Monaco Solicitors Pty Ltd [2026] QCA 68, the Court of Appeal significantly expanded a first mortgagee’s priority in respect of disputed proceeds of a residential property development under a Deed of Priority. The decision highlights the importance of careful drafting of such deeds. ProLend Solutions No 50 Pty Ltd and Monaco Solicitors Pty Ltd both funded a residential development. The Deed of Priority provided for the proceeds of sale to be distributed first

I appeared in a case before Jackson J where a guarantor sought to avoid an action for recovery of possession by asserting the mortgage was void for statutory unconscionable conduct. The guarantor was unsuccessful in so doing, and the court held that if restitution for the loan is not offered, the mortgage ought not be avoided. The result was that even if s12CB ASIC Act had been made out (cognate to ss 21 & 22 ACL) it would have been insufficient to invoke relief. Where equitable relief avoiding