Thurston and Loomis and Anor

This matter concerned an application before Forrest J in the Federal Circuit Court of Australia, brought by Ms Thurston against Mr Loomis and L Ltd. The dispute revolved around the management and financial arrangements pertaining to a property located at I Street, Town J, County K.

The court was required to determine the terms of interim orders concerning the refinancing of a debt secured by a mortgage over the Town J property, and the process for entering into new leases for that property. Specifically, the court needed to decide whether Mr Loomis and L Ltd should be permitted to renegotiate or refinance the existing debt, and under what conditions, and whether Ms Thurston should be given notice of any proposed new leases and what that notice should entail.

Forrest J ordered that Mr Loomis and L Ltd be permitted to renegotiate or refinance the debt secured by the mortgage over the Town J property, provided that the total debt did not exceed the amount owing at the time of any refinancing. Furthermore, Mr Loomis and L Ltd were ordered to provide Ms Thurston with at least three clear weeks' written notice of any intention to enter into a new lease for the property, including the names of proposed lessees and the proposed rental terms. L Ltd was restrained from entering into any new lease without providing this notice. All other interim applications made by Ms Thurston and remaining applications made by Mr Loomis and L Ltd were dismissed.