In this matter a Serbian immigrant, who was illiterate in English, who was on Centrelink benefits and had no job, obtained a compensation payout of $40,000 and decided to buy a unit. Some intermediary forged various documents and the loan was represented as being to a woman with a car and a dress making income. The lender failed to comply with its checks of the details on the application and the loan got through.
The judge decided that Contracts Review Act relief may be appropriate but he first wanted the property sold. Once the sale price was known, if there was a shortfall on the mortgage and/or the $40,000 invested by the woman he would make a decision as to how those losses should be shared. The matter was stood over until then.