Brokers as Agents of Lender

Stacks Managed Investments Limited v Tolteca [2015] QSC 80

The borrower sued its former solicitor for his conduct relating to its entry into the loan.  In separate proceedings the lender sought possession and the borrower counterclaims for relief founded on “unconscionable conduct” by the lender in the giving of the loan in breach of section 12CB of the Australian Securities and Investments Commission Act 2001. The …

Stacks Managed Investments Limited v Tolteca [2015] QSC 80 Read More »

Perpetual Trustee v Bowie [2015] NSWSC 328

The lender sought possession and the borrower, who was on a disability pension claimed that the loan and mortgage were unjust under the Contracts Review Act and that the lender was negligent in advancing the loan. The borrower obtained a no doc loan to purchase a second residence while her house was being renovated on …

Perpetual Trustee v Bowie [2015] NSWSC 328 Read More »

Citigroup v Middling [2015] NSWSC 221

A borrower on a disability pension was conned by a loan originator to borrow against his home to make an investment that would pay off his remaining mortgage of $15,000 and give him a good return. The originator included false documents in the loan application for $240,000, including a false valuation. The investment was made, …

Citigroup v Middling [2015] NSWSC 221 Read More »

NAB v Smith [2014] NSWSC 1605

A naive, simplistic salesman was talked into buying a two year old business where he worked as a salesman for $2 million. He had no inkling of the businesses financials but the bank did and encouraged him. The bank also fell victim to questionable documents emanating from a broker’s office.  The parents of the borrower …

NAB v Smith [2014] NSWSC 1605 Read More »

Scroll to Top