Case Results

A husband and wife started a joint business. To obtain start up capital they borrowed on their parents’ homes. For several years the business prospered exceedingly well.

Bransgroves Lawyers acted for the successful lender. The funds were advanced to the nephew and used for his business. The borrowers claimed their signatures were forged by the nephew.

This involved a successful application by Bransgroves Lawyers to set aside default judgment. The father, mother, sister and wife of the borrower guaranteed a loan to the borrower.

Bransgroves acted for the successful lender in this case (two separate decisions).Equititrust  Ltd v  Newton  [2010] NSWSC 455 (13 May 2010) and Newton  v  Equititrust  Limited [2010] NSWSC 1075

Bransgroves acted for the successful lender. The loan was to a company the director of which guaranteed the loan. The guarantor claimed the loan was within the Consumer Credit Code because:

Bransgroves acted for the successful lender.The loan was secured by a rural property. The lender served a notice pursuant to s8 Farm Debts Mediation Act. The borrower did not elect to mediate within the 21 days allowed under the notice.

Bransgroves successfully acted for the lender in this case where the borrower sued alleging breach of duty in the exercise of its power of sale. Although the proceedings were commenced 10 years after the sale because a mortgage is a deed the 12 year limit applies and the suit was not time barred.

Bransgroves successfully acted for the lender in these proceedings. Our client sold a property pursuant to its power of sale under a registered mortgage. The purchaser did not complete the sale within the time prescribed by the contract.

Bransgroves successfully acted for the lender in these proceedings. Our client sought possession of the land pursuant to its mortgage. The hearing was delayed repeatedly by claims made by the borrower that a decision to grant legal aid was imminent.

Bransgroves successfully acted for the lender in these proceedings. Several days into the hearing our client obtained judgement by consent for $575,000 against a third party mortgagor, Mr Walster, with leave to issue a writ of possession. The mortgagor then pursued his cross-claim against the broker and obtained judgement for $575,000 for breach of s42 of the Fair Trading Act - misleading and deceptive conduct.

Bransgroves successfully acted for the lender in these proceedings. Our client took possession of the security property and then sought to enforce guarantees against the directors, Norman Clifford Boyle and Richard Lee Woods.

Bransgroves successfully acted for the lender in these proceedings. Our client entered into mortgage for $755,000 in December 2003 for a one year term. Shortly before expiry the mortgage was varied to extend the term for three months and increase the principal by $100,000.

Bransgroves successfully acted for the lender in these proceedings. Our client held a first mortgage and was approached by the receiver appointed by the second mortgagee who wished to sell the property. Matthew Bransgrove wrote to the receiver:

Bransgroves successfully acted for the lender in these proceedings. Our client made three separate loans to two borrowers on second, third and fourth ranking mortgages. The value of the land was grossly misrepresented and the lender was able to recover nothing from the land.

Bransgroves successfully acted for the lender in these proceedings. In this unusual case, our client, a businessmen's club, wished to raise money but discovered, in the course of making arrangements for providing security, that the Register of Charges maintained by ASIC contained a charge dated 10 June 1955 securing an amount of 4,000 pounds.