Brokerage

Home Loan Experts v Nassif Isaac [2017] NSWSC 1077

Mortgage originators / brokerage companies can rest assured that their client lists can be safeguarded through restraint of trade clauses after the decision in Dargan Financial Pty Ltd ATF the Dargan Financial Discretionary Trust (trading under “Home Loan Experts”) v Nassif Isaac(1). They must, however, make provision for who owns the client information in their agreement, …

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ACN 075 911 410 v Almaty [2011] NSWSC 333

The owner of land granted a charge over it to secure brokerage. The broker sought an extension of its caveat which was opposed by the owner’s co-developer of the land.  The law is that the court must determine whether the caveator’s claim “has or may have substance” under section 74K of the Real Property Act …

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Mitry v Business Australia Capital Finance (in liq) [2010] NSWCA 360

A solicitor agreed to introduce a borrower to a lender in return for a 5% commission. The borrower in question was the Republic of Nauru. The loan they were attempting to refinance was the very sizeable sum of $211 million Nauru owed to GE Capital. The solicitor set up a meeting between the lender and …

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CB Direct v Challenger Mortgage Management [2009] NSWSC 334

In this case White J, as Duty Judge in Equity, determined an application for an interlocutory injunction by a mortgage originator, CB Direct, against a loan funder, Challenger. CB Direct argued that a purported termination of the origination agreement was invalid and sought a mandatory interlocutory injunction that Challenger pay trailing commission due for the …

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CT Money v AFIG Wholesale [2008] NSWSC 1336

In this case CT Money, a mortgage originator and manager, purported to purchase the loan book off DC Corporation Australia, the wholesaler being AFIG Wholesale Pty Ltd. Upon being notified AFIG began to pay DC’s commission direct to CT. CT entered into its own correspondent deed with AFIG and began to write loans. Time went …

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Interstar Wholesale Finance v Integral Home Loans [2008] NSWCA 310

In this case the wholesaler (Interstar) terminated its agreement with the originator (Integral). The originator fee payable under the agreement constituted both the commission and management fees. The agreement did not distinguish between the two, but did provide that if the agreement was terminated the originator would still be entitled to the trail less the …

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