Kilmartin Knyvett Lawyers successfully acted for a company that held a second registered mortgage over a property. The registered proprietors of the property went into bankruptcy.
The first mortgagee sold the property and paid the surplus proceeds into court. The trustees for the bankrupt claimed an entitlement to the surplus proceeds and alleged that our client had surrendered its security over the surplus proceeds.
Our firm was successful in obtaining orders from the District Court of Queensland entitling our client to the surplus proceeds and obtaining a costs order against the trustee in bankruptcy.
