Bankruptcy

Perpetual Trustee v Cuitanovic [2013] NSWSC 722

The lender was seeking possession. The borrower was made bankrupt ten days before the matter was decided, and his trustee in bankruptcy was substituted for him as a party to the court proceedings. The issue in the proceedings was whether the Court could proceed to grant judgment for possession in circumstances where the borrower was …

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Bankrupt Estate of Atkinson v Woodward [2012] NSWSC 434

A husband and wife co-owned a property. The husband became bankrupt and bankruptcy trustees were appointed to his share. The bankruptcy trustees sought orders for the sale pursuant to section 66G Conveyancing Act 1919. The wife resisted on the basis that there was no equity in the property because it was mortgaged to the bank. …

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Hanshaw v NAB [2012] NSWCA 100

The borrower fought a tough rearguard action against possession proceedings commenced in November 2009. This included an approach to the bank’s External Dispute Resolution provider, Financial Ombudsmen’s Service which, according the judge, “put the proceedings to sleep” for five months. During the FOS episode the borrower was bankrupted by another creditor and a trustee appointed. The …

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GE Commercial v Bankrupt Estate of Lymn [2012] NSWSC 562

A guarantee signed by a party who was subsequently made bankrupt contained the following charging clause: The Guarantor will grant to GE a legal mortgage in registrable form (containing such terms and conditions as GE may require) of any land held by the guarantor now or in the future, which mortgage must secure the amount …

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Moussa v CBA [2011] FCA 67

The Lender obtained monetary judgment and then bankrupted the borrower. The borrower sought review of the sequestration order on the grounds he was denied natural justice because his adjournment application had been denied and so he was unable to obtain legal representation. The application for review was dismissed and the borrower then appealed. The lender …

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GKQ Mortgages v Forsyth [2010] NSWSC 1305

The lender obtained judgment on 9 October 2009. The borrowers obtained several stays and were also allowed back onto the security property by agreement with the lender on several occasions. The borrowers then sought a stay pending hearing of an application to set aside default judgment and file a defence. The borrowers had already been …

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