Set off

  • Westpac v Leckenby [2015] QSC 363

    18 December 2015
    The bank sued a guarantor for the amount owing under a loan and the guarantor sought to defend the claim by way of set-off or counterclaim. However the guarantee provided for no set off or deduction...
  • George 218 v BOQ [2015] WASC 434

    16 November 2015
    A borrower was lent money on the security of a mortgage and “all moneys” guarantees. The loan was refinanced but the guarantees continued for any future lending. The lender’s rights under the...
  • CBA v MLD Financial Services & Management [2015] NSWSC 1476

    12 October 2015
    The bank sought possession. The borrower and guarantor alleged equitable set-off on the basis that the bank by its negligence had impaired the ability of the business to earn income to pay what was...
  • National Australia Bank v Sayed (No. 3) [2015] NSWSC 1473

    07 October 2015
    The bank obtained a money judgment and possession. The borrowers failed to pay and sought a stay the day before the writ was due for execution until his cross-claim could be heard.The cross-claim...
  • ANZ v Fisher [2014] NSWSC 1643

    17 November 2014
    The borrower raised a defence in respect of interest. However, had no defence to the lender's claim for repayment of principal. The principal was greater than the value of the property. Accordingly,...
  • Perpetual Nominees v McGoldrick [2014] VSC 152

    08 April 2014
    The lender sought summary judgment for the shortfall on its debt. The guarantors claimed negligence on the part of the administrators/liquidators appointed by the lender to handle the sale. The...
  • O'Brien v Bank of WA [2013] NSWCA 71

    10 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...
  • ANZ v RQA Accountants [2013] NSWSC 165

    21 March 2013
    The lender sought summary judgment for possession against husband and wife accountants. The mortgages provided that the borrowers will pay without deduction, withholding for tax and without any...
  • Oswal v CBA [2013] WASCA

    06 March 2013
    The bank lent US$27m to Garuda to purchase an aircraft. Garuda repaid US$10m of the principal early. The bank charged Garuda a break cost fee which Garuda paid. Garuda later went into default and...
  • Westpac v Helicopters Brisbane [2012] QSC 263

    10 September 2012
    The owner of ABC Learning guaranteed the repayment of a bank loan for an expensive camera for his helicopter. A bill of sale was granted over the camera. The loan went into default and the bank took...

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