Third party loans

  • RHG Mortgage Corporation v Baira [2014] NSWSC 849

    30 June 2014
    Two sets of parents gave guarantees and mortgages for a loan to their children who were married to each other. The loans were then transferred to a different bank and the parents became borrowers...
  • Mango Media v Comitogianni [2011] NSWSC 152

    21 March 2011
    The broker was a school friend of the borrower. They had not seen each other for 20 years but rekindled their friendship a year before the loan. The borrower was a truck driver prior to which he had...
  • Perpetual Trustee Company v Kotevski [2009] NSWSC 1228

    15 November 2009
    This involved a loan of $224,000 by way of first mortgage over the home unit of a borrower who was 74 years old, could not speak English, and who’s only apparent source of income was an aged persons...
  • Prime Finance v Randall [2009] NSWSC 361

    30 April 2009
    In this case an elderly couple mortgaged their house for the benefit of their daughter. They raised the standard Contracts Review Act defence. In the course of the proceedings they filed affidavits...
  • Perpetual Trustees Victoria v Malouf [2008] NSWSC 834

    14 August 2008
    In this case the son borrowed on his non-English speaking parent's house to invest in the short term loan market. The money was lost and the lender sought possession of the house. The parents sought...
  • Clarke v Lopwell [2008] NSWSC 615

    17 June 2008
    In this case there was guarantee and mortgage given by dairy farmers to support a loan that went to a third party. The third party was introduced to the borrowers by their accountant. They received...
  • Spina v Conran Associates [2008] NSWSC 326

    13 April 2008
    In this case the owner of the mortgaged property was a 91 year old Sicilian woman who lived in a nursing home and although a resident of Australia for 55 years could not speak, read or write...
  • J P Morgan Trust Australia v Siahos [2008] NSWSC 207

    12 March 2008
    In this matter a 81 year old Greek man and his 71 year old Greek wife (both with limited English) granted a power of attorney to their son who used it to transfer a third of the family home to...
  • Higgs v Thompson [2006] NSWSC 920

    04 September 2006
    The borrower/mortgagor was an elderly man suffering from dementia born in 1914. His daughter guaranteed the loan but the court found she was in substance the borrower. The court also found she had...

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