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NEWSLETTER
BANKING & FINANCE
JUNE 2007 |
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WELCOME
SEBASTIAN
SACCUZZO,
Partner
Welcome to the
second edition of Russell Kennedy’s
online Banking & Finance Newsletter.
In this edition we focus on two
topical areas - “Issuing notices to
vacate on tenants in a security
property” and “Limitations on
creditors’ rights of subrogation”.
Our aim is to keep you up to
date on topical legal issues and
services of the firm. Thank you
to everyone that provided
feedback to our first edition,
again we welcome your
feedback
and suggestions on the
type of information that you
would like to see covered in
future editions.
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LIMITATIONS ON
CREDITORS’ RIGHTS OF SUBROGATION
RODERICK TAN,
Solicitor
Creditors frequently lend to a company acting as
trustee for a discretionary or unit trust in
addition to lending to a company in its own
right. A
trustee, often with nominal capital and minimal
assets, has a very limited capacity to discharge
liabilities in its own right.
Notwithstanding, creditors rely on the
entrenched right of a trustee to be indemnified
out of trust assets when lending to trustees
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ISSUING NOTICES TO VACATE ON TENANTS IN
A SECURITY PROPERTY
NATHAN BRUNT,
Senior Associate
When a mortgagee is faced with a need to
enforce its mortgage and sell a tenanted
Victorian residential security property
to recover a debt owing, the first step
to be considered is how to obtain vacant
possession of the property.
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HERE TO READ MORE |
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Copyright 2007 © Russell Kennedy.
The information contained in this publication is intended as
general commentary and should not be regarded as legal
advice. Should you require specific advice on any of the
topics or areas discussed, please contact the author
directly.
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