An entity that owned a mine obtained funding through notes issued by it and gave security over its mine. The lender assigned its rights to the mine’s competitor and the new lender alleged default. This was challenged by the borrower along with its liability to pay interest. The borrower argued that the redemption of its …
This has been a long running saga. The registered proprietor’s brother forged the mortgage. When the registered proprietor raised the forgery as a defence, the lender cross-claimed against the mortgage orginator, claiming under the indemnity in the mortgage origination deed. The lender’s claim failed against the mortgage originator due to a lack of evidence and …
The primary case was decided in favour of two brothers as against a solicitor who bought out their sister’s interest with loan secured over the property and by the brothers’ guarantees. The solicitor sought to be discharged from the loan and the brothers successfully claimed that their agreement with the solicitor was unjust and were …
Perpetual Trustee Company v Papantoniou [2014] NSWSC 885 Read More »
The court ordered costs to follow the event on the basis that the borrowers had been substantially successful, even though they had failed on a number of the matters raised by way of defence and cross-claim. This was because the court found that evidence relating to these matters was still relevant to the Contracts Review …
The bank lent on three properties to three borrowers. The borrowers defaulted but the bank sued only one of the borrowers and for possession of two of the properties. A cross-claim was made by the other two borrowers by way of set off in relation to the third property, namely that the bank failed to …
The borrower lost her Contracts Review Act claim against the lender and the lender was awarded possession of her property. However, the borrower was successful in seeking damages for negligence from the solicitor who provided her with independent legal advice about the loan contract. The court had held that the solicitor had failed to draw …
The borrowers defaulted and the lender had been given an order for possession. The borrower refinanced the mortgage debt but had also been ordered to pay the lender’s enforcement expenses (which was a term of the loan agreement). The borrowers brought an application under the Legal Profession Act requesting taxation of the fees of the …
The borrower retained a dodgy solicitor on 8 May 2013 who immediately wrote (but did not send) a letter to the lender alleging that it had not complied with the Farm Debt Mediation Act and that the consent orders for possession was therefore void. The borrower put together a posse returned to the property, where …
The guarantor brought a claim against the bank to have the mortgage and guarantee set aside on the grounds that they were forgeries and/ or alternatively on the grounds of the Contracts Review Act. The guarantor was a Chinese/ Australian businessman unable to speak or read English without the assistance of a translator. The judge …
The bank had sold the property (belonging jointly to the company and others) but had suffered a shortfall. It wanted to recover the shortfall from the company, however the company had been deregistered due to failing to file annual returns and failing to pay outstanding fees. The bank asked the court for an order that …
