A first mortgagee exercising a power of sale by auction who deliberately keeps a seriously interested potential purchaser away from the auction, particularly where motivated in part by obtaining a collateral advantage for itself, breaches both the general law duty of good faith and s 420A of the Corporations Act 2001. The remedy for the general law breach is an account (not damages); the remedy for the statutory breach may be an order for payment of loss under s 423. Section 1324(10) does not provide a freestanding damages remedy absent a claim for injunctive relief. A subsequent mortgagee has standing to complain under s 423 about breach of s 420A.
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