Foreign Currency Loan

Donnelly v ANZ [2014] NSWCA 145

This case concerned a dual currency HKD/AUD loan. The loan was converted to AUD by the bank when the value of the AUD fell. The wife’s claims of unconscionability, breach of agreement and estoppel were all rejected by the court and the bank obtained possession and judgment against the wife. The wife appealed. The Court …

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ANZ v Donnelly [2013] NSWSC 1760

An Australian expat couple in Hong Kong refinanced their mortgage in Australia with a dual currency HKD/AUD loan. The loan was converted to AUD when the value of the AUD fell. Upon conversion the couple could no longer afford the payments and the lender sued for possession. Default judgment for possession was entered against the …

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