03 May 2013
A lender sought repayment of a loan made to his joint venture partner. The borrower it had been agreed verbally to vary the loan so as to extend the repayment date.
The Appeal Court found that even if the alleged variation was agreed it was...
29 April 2013
Two co-owners sought different remedies to terminate their co-ownership, one sale and one partition. A section 66G order was made by the Supreme Court to partition the land and to require one co-owner to pay the other a sum to take account of...
19 April 2013
A director failed to pay on his guarantee of his company’s debt and the bank sought possession of his property. The guarantor admitted the loan and guarantee but not either of the two variations, and claimed that he was thereby discharged...
18 April 2013
The lender sought judgment and possession. The borrower’s defence claimed the mortgage broker was the lenders agent and his conduct was such that the mortgage should be set aside.
The lower court held in favour of the lender and the...
16 April 2013
The bank loaned $5.5M of which $1.6M was used to discharge a previous mortgage. The borrower defaulted and when pressed filed a Contracts Review Act Defence.
The bank sought summary judgment for the amount of $1.6 (the amount applied to the previous...
11 April 2013
The bank lent money to a company secured by guarantees. Both the loan and the guarantee contained suspension clauses, requiring full payment with no deduction or set-off. The loan became due, the borrowers did not pay and the bank applied for summary...
03 April 2013
This is the first High Court case on the proportionate liability legislation. A fraudster forged a loan and mortgage, falsely witnessed by his lawyer cousin. The lender's solicitors, Hunt & Hunt prepared the advance and negligently drafted the...
03 April 2013
A father gave a mortgage to secure a guarantee of a loan to his son to purchase a service station. Unusually there was no default by the son or the father and no claim for possession by the bank. However the bank mortgage prevented the father from...
27 March 2013
The parties agreed to consent judgment for possession of the security properties and for the money owing.
The bank then went away and sold the properties but realised a shortfall.
The guarantors brought proceedings alleging the bank...
26 March 2013
The caveator’s shares in the mortgagor were allegedly forfeited as a result of non-payment of a call contribution. She claimed her shares were invalidly forfeited and an interest in property pursuant to a resulting, implied or constructive trust and...
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