Banking Code

BankWest v El-Khoury [2013] NSWSC 157

The bank sought to enforce its guarantee against the directors of a child care centre. The guarantors argued no default based upon an alleged oral variation of the loan by the bank to extend its term and increase its limit. The terms of the guarantee: (a) provided that no changes to the loan could affect …

BankWest v El-Khoury [2013] NSWSC 157 Read More »

National Australia Bank v Priestley [2012] NSWSC 1611

The farm had been in the family for five generations. Following breach of an agreement resulting from a farm debt mediation, the bank obtained default judgment for possession. The borrowers then sought to have the judgment set aside and to file an amended defence on the grounds there had been a breach of code of …

National Australia Bank v Priestley [2012] NSWSC 1611 Read More »

Victor Seeto v Bank of WA [2010] NSWSC 922

This case involved a $22 million facility where the lender appointed receivers to borrower’s hotel businesses and properties. The borrower responded by bringing an application for a mandatory injunction for removal of receivers, on the grounds that the appointments were invalid. There were several established defaults including a failure to provide accounts and to keep …

Victor Seeto v Bank of WA [2010] NSWSC 922 Read More »

Sam Management Services v BankWest [2009] NSWCA 320

In this case the borrower’s accountant disappeared, having destroyed the company’s business records and having defrauded it of large sums of money. Some of the borrower’s facilities with the bank were due for roll-over but the borrower was not in a position to provide its 2007 financials. The bank, therefore, required repayment of the expired …

Sam Management Services v BankWest [2009] NSWCA 320 Read More »

Sam Management Services v Bank West (No.1) [2009] NSWSC 676

The bank attempted to enforce its loan and the company cross-claimed arguing there was an implied term in the loan agreement to permit a partial refinance and/or the bank was required to act reasonably by virtue of the Banking Code and allow a partial discharge. As the borrower had less than 20 staff the code …

Sam Management Services v Bank West (No.1) [2009] NSWSC 676 Read More »

Scroll to Top