Bank of Queensland Ltd v Tsakmakis [2013] NSWSC 164

The bank sought possession in relation to an ill fated development. The guarantor made six complaints against the bank in relation to:

  1. variations to the building contract;
  2. the bank’s “failure to act to replace the builder”;
  3. non-payment to subcontractors;
  4. approval of progressive draw downs;
  5. the execution of the refinance; and
  6. the bank’s “non-co-operation in assisting” the father to sell the units.

The court found that the borrower’s complaints about the bank’s conduct had no substance. The complaints were the responsibility of the guarantor not the bank. The court also stressed that no evidence of damage had been put before the court. The court found for the bank and granted.

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