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High Court, in proceedings brought by a fund seeking judgment against a borrower who claims that his signature on a loan agreement was forged by his partner: (a) refuses to allow the trial of a preliminary issue concerning whether the fund's interest over lands ranks ahead of the borrower's, on the grounds that the fund, having elected not to sue on the mortgage in question in these proceedings, cannot argue that the hearing of the issue will save time and costs; and (b) orders that the borrower make discovery of a settlement agreement with his partner in separate proceedings relating to the alleged forgery, on the grounds that it is likely that its terms will shed light on the status of the alleged forgery of the loan agreement.
High Court - fund seeks judgment on foot of loan agreement its says defendant entered into in 2011 - defendant says signature to loan agreement forged by co-defendant - fund not seeking to enforce mortgage security relating to loan in these proceedings - on this basis court refuses to determine as a preliminary issue whether the defendant's interest in the secured lands ranks ahead or behind of its own - not going to save time and costs of the hearing of issues in these proceedings - court orders that defendant make discovery of settlement agreement he reached with co-defendant in separate proceedings on the basis that its terms will likely shed light on whether his signature was forged on loan agreement at issue in these proceedings.
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