Federal Court may order stay of proceedings under mortgage
128 Federal Court may order stay of proceedings under mortgage
Where:
an interest in land acquired by compulsory process was, immediately before the acquisition, subject to a mortgage; and
proceedings by the mortgagee were pending at that time, or are commenced or proposed to be commenced after that time and before compensation has been paid in full to the mortgagor in respect of the acquisition;
the Federal Court may, upon the application of the mortgagor and subject to such conditions as it thinks fit, order a stay of those proceedings or enjoin the mortgagee against commencing or continuing those proceedings and make such other orders as it thinks necessary.
In this section, proceedings means any action to enforce the rights of the mortgagee under the mortgage, whether or not the proceedings are in a court, including action with a view to taking possession of or selling an interest in land or foreclosing.
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