Interest

BankWest v Callipari [2011] NSWSC 145

The borrower stopped making interest payments because he had lost faith in the personnel at the bank. When BankWest sought possession the borrower did not file a defence but argued at trial that: It never received the funds suggested in the bank statements; BankWest had wrongly accounted for funds paid; BankWest was wrongly charging default …

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Agricultural and Rural Finance v Atkinson [2010] NSWSC 1396

This case involved a dispute over the interest rate applicable under an unusually drafted mortgage. The dispute centred on a clause that read: If the Lender elects to call up the loan pursuant to a default by the Borrower, interest on the Principal Sum shall be calculated at 10.5% per annum and shall be payable …

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