Buchanan v Crown & Gleeson Business Finance Pty Ltd

Buchanan sought the removal of a caveat lodged by Crown & Gleeson Business Finance Pty Ltd to permit the refinancing of a mortgage. The matter was heard in the Supreme Court of Queensland. The primary issue before the court was whether the balance of convenience favoured the removal of the caveat to permit the refinancing of the first mortgage. The court also considered whether the caveator was entitled to an undertaking as to damages as a condition for maintaining the caveat.

The court held that the balance of convenience favoured the removal of the caveat. The caveator had an indisputable caveatable interest, but the court found that the removal of the caveat would not be detrimental to, and may enhance, the caveator's position. The court also held that the caveator was not entitled to an undertaking as to damages as a condition for maintaining the caveat.

The court ordered that the caveat be removed, and that the caveator provide an undertaking as to damages as a condition of maintaining the caveat. The court found that the balance of convenience favoured the removal of the caveat, as the result would not be detrimental to, and may enhance, the caveator's position. The court held that the caveator was not entitled to an undertaking as to damages as a condition for maintaining the caveat, as the onus was on the caveator to demonstrate that the balance of convenience favoured maintaining the caveat.