Power of Attorney

Dimitrovski v Australian Executor Trustees [2014] NSWCA 68

A son borrowed money secured by a mortgage over property owned by his grandmother. The mortgage was executed by his father pursuant to a power of attorney. The grandmother died and both the son and father were appointed executors under her will and became owners of the mortgaged properties as her personal representatives. The son …

Dimitrovski v Australian Executor Trustees [2014] NSWCA 68 Read More »

Euphoric v Magar [2011] NSWSC 469

The lender claimed the mortgage secured $13 million while the guarantors who signed it claimed it only secured $800,000. The issue turned on the interpretation of the mortgage. The mortgage expressly secured the ‘principal amount’ (which encompassed the $13 million, however there was another clause: The lender shall not ultimately receive in payment of the …

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Fast Funds v Coppola [2010] NSWSC 470

In this case an elderly non-English speaking couple took out high interest loans so their daughter could pay her violent and abusive boyfriend and his associates $385,000. The judge was deeply moved by this commenting: The intimidation involved incidents of intensely ugly forms of humiliation. Most forms of objective language are ill equipped to convey …

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Spina v Permanent Custodians [2009] NSWCA 206

In this case an 86 year old Mother sought relief under the Contracts Review Act and the doctrine of Unconscionability in relation to a mortgage entered into at the behest of her son and substantially for his benefit. The Mother was in a nursing home at the time of the loan but nevertheless the Khoshaba …

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Spina v Conran Associates [2008] NSWSC 326

In this case the owner of the mortgaged property was a 91 year old Sicilian woman who lived in a nursing home and although a resident of Australia for 55 years could not speak, read or write English. The mortgage was executed under a power of attorney by her son and the money used for …

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J P Morgan Trust Australia v Siahos [2008] NSWSC 207

In this matter a 81 year old Greek man and his 71 year old Greek wife (both with limited English) granted a power of attorney to their son who used it to transfer a third of the family home to himself and then borrow from Interstar. When that loan defaulted the son then refinanced with …

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Integrated Lending v Lion International Holdings [2005] NSWSC 1268

In the case the lender loaned $200,000 to borrower at 360% p.a. Later, by agreement this was capped to 120%, however compound interest of 1% for part of the term resulted in a payout figure of $800,000 even though the principal had been repaid. The loan was secured by an unregistered mortgage pursuant to which …

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