Lender Negligence

Nichols Constructions v Elphick [2015] NSWSC 1732

The lender obtained default judgment which was set aside on the basis that the court found the borrower had an arguable case that her obligation to repay the loan only arise if and when the subdivided lots were sold and construction contracts entered into for the amounts in a spreadsheet attached to the loan agreement …

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CBA v Clapham; Byron Bay Holdings v CBA [2015] NSWSC 1714

The bank financed the purchase of Macadamia farms secured over the farms, a beach property and personal guarantees by the husband and wife. The borrower was the trustee of a family trust. The borrower defaulted and receivers were appointed to the trust properties and sold. The beneficiaries of the trust were the husband and wife. …

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Taouk v Louis [2014] NSWSC 799

An elderly Lebanese couple with limited English claimed they were tricked into signing a loan and mortgage by their nephew and their signatures and loan withdrawals were all forgeries. The couple claimed that they had mistakenly understood they were guarantors for their nephew’s loan. The couple sought orders that the mortgage be set aside as …

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Westpac Banking Corporation v Diagne [2014] NSWSC 822

A husband and wife ran a successful African restaurant and purchased another property to open a further restaurant. This purchase was funded by the bank as a commercial loan and the husband and wife gave guarantees. The guarantees were secured on the family home as well as the property purchased. The couple ran into financial …

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Pearl Beach Property Administration v Wisewoulds Nominees [2014] VSC 113

The owner of property sought an injunction to restrain the lender in possession from auctioning the property on the day of the auction on the basis that he had a purchaser willing to pay an amount sufficient to discharge his secured debts. The owner claimed that there was a want of good faith or negligence …

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Raging Thunder v BankWest [2012] QSC 329

Bank West advances $37M on dodgy presales and ‘suffers major losses’, but that was not the end of the woes…  This was a dispute between Bank West who held the first mortgage and the former owner of the property who provided vendor finance in return for a second mortgage.   The development was a failure and …

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Secure Funding v Moon [2012] QSC 244

A husband and wife defaulted on their mortgage and the lender sought possession and the balance of the loan. The husband and wife counter-claimed against the broker and the lender for negligence and sought for the loan and mortgage to be set aside. The basis of the negligence claim was that the broker allegedly falsified …

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