16 Apr 2010
TOTARA INVESTMENTS LIMITED V CRISMAC LIMITED SC 75/2009
- Citation
- TOTARA INVESTMENTS LIMITED V CRISMAC LIMITED SC 75/2009
- Court
- Supreme Court
The loan agreement's limited recourse clause (cl 11.1), expressed as overriding ('Notwithstanding any other term'), confined the lender's entitlement to recourse to the specifically defined property; clause 9.1(d) of the mortgage must be read consistently with that paramount limitation and therefore did not authorize the mortgagee to execute general security agreements over all assets of the borrowers as attorney.