Liv Style Group Pty Ltd v Eternity Fortune Group Pty Ltd

In this matter, Liv Style Group Pty Ltd, the plaintiff, sought a judicial sale of property owned by Eternity Fortune Group Pty Ltd, the defendant. The property was subject to a first registered mortgage and a second unregistered mortgage, which the defendant had granted to the plaintiff to secure a loan. The property was also subject to a caveat. The guarantor for the mortgage was located in China, offered to repay the loan but did not participate in the proceedings. The court had to consider whether a judicial sale of the property and ancillary orders for possession were appropriate.

The central legal issue before the court was whether the orders sought by the plaintiff were appropriate given the circumstances. Specifically, the court had to consider the effect of the unregistered second mortgage, the registered first mortgage, the caveat, and the absence of the guarantor. The court also had to consider whether there was a third party occupying the property, which was unclear.

The court held that the orders sought by the plaintiff were appropriate. The court noted that the unregistered second mortgage was valid and enforceable against the defendant. The court also held that the first registered mortgage did not affect the validity of the second mortgage. The court further held that the caveat did not affect the priority of the second mortgage. The court also held that the absence of the guarantor did not prevent the court from making the orders sought by the plaintiff. Finally, the court held that even if there was a third party occupying the property, the orders sought by the plaintiff were still appropriate.

The court ordered that the property be sold by judicial auction and that the proceeds of sale be applied in satisfaction of the plaintiff's debt. The court also ordered that the defendant be evicted from the property.