Discharges

Jetobee (in liquidation) v Smith & Young [2015] NSWSC 1526

This case concerned 2 companies, both having a common director and shareholder. One company was owned by a couple and the other by the male partner only. The company owned by the couple (first company) borrowed from the bank on a commercial loan secured by a first registered mortgage and a guarantee given by the …

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Luna Property v ANZ [2015] SASC 137

A mortgagee insisted on payment of additional amount beyond what was owing on the mortgage to secure future costs of litigation before giving a discharge. The borrower sought a mandatory injunction compelling the bank to discharge the securities. The history of the dispute had its origin in the borrower disputing the bank’s entitlement to fees …

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Conridge v Schaapveld [2015] NSWSC 663

There were two neighbours who were good friends. One would often borrow money from the other for business purposes. The loans were never documented. On this occasion, the borrower requested $500K to start a frozen custard franchising business. It was done on a hand shake between the borrower and his son and the lender. 10 …

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NAB v Cunningham [2014] NSWSC 1095

The bank initially sued for possession of the guarantors’ property. The guarantors argued that their liability was limited to less than that claimed and that their guarantee and mortgage was void because the bank had breached its obligation to act in good faith. They also argued that the receivers appointed by the bank had breached …

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Van der Kooij v Mystate Financial [2014] FCA 350

The borrower purported to discharge the mortgage by tendering a promissory note. The lender refused the tender and sold the security. The borrower sued alleging the lender should have accepted the promissory note and failed to obtain “the best price reasonably obtainable” when selling the property. Promissory note The court rejected the promissory note argument, …

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The Trust Company as trustee of the Estate of William Redman [2011] NSWSC 755

The trustee of property of a deceased sought a determination under section 98(1) of the Conveyancing Act 1919 that all amounts due under an old mortgage had been paid and a certificate be granted to that effect and an order that the trustee be authorised to sell the land by private contract. The will provides …

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