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ARTICLE · 29 APRIL 2012

Understanding development approvals - mortgagee restrained from exercising power of sale

Holding Redlich
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Holding Redlich

Holding Redlich

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This decision reminds mortgagees and receivers exercising a power of sale to first review all development approvals.

AustraliaReal Estate and Construction

On 22 March 2012, the Planning and Environment Court of Queensland (Court) granted the Gold Coast City Council (the Council) an injunction restraining the mortgagee in possession from exercising its power of sale over Lot 15 Caballo Road, Guanaba (Guanaba property) until further notice.

An auction for the sale of the Guanaba property was scheduled for 31 March 2012. The Information Memorandum stated:

The subject property is 65.11 Hectares in size (160 acres approx) with a Rural Zoning and located on Caballo Road at Guanaba. The property is fairly heavily timbered and quite steep in parts, however there are a couple of areas where a home could be built with quite fantastic views, particularly from the peaks on the ridge which overlooks the coast.

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