This was an appeal by a borrower to the Court of Appeal from the decision of the trial judge. Equititrust, entered into five loan facilities with related Borrowers for amounts totaling $20 million. The amounts were all repaid, but not until after the due date. The Borrowers brought proceedings contend the amount of interest that …
Summer Hill Business Estate v Equititrust [2011] NSWCA 149 Read More »
Two joint venturers entered into a written contract providing for one of the joint venturers to commence certain advisory services. They had to be performed upon a completion notice being issued and not before. If no completion notice was issued within 12 months, the deposit paid by the other joint venturer would be returned. Twelve …
Metroland Funds Management v Skyrise Consultants [2011] NSWSC 343 Read More »
The son claimed a 38% interest as tenant-in-common with his sister in property pursuant to a deed made by their parents, the daughter and her husband. The land was purchased in equal amounts by the parents and daughter and a house was constructed on the property for them all to live in from contributions split …
Two brothers co-owned a farm and the younger brother sold his interest in the farm to his older brother. A dispute arose many years later as to whether the sale included the water rights. The older brother argued that the water rights were transferred with title to the farm. The younger brother sought relief under …
This case concerned two applications under section 459G of the Corporations Act to set aside statutory demands. The two debts were allegedly owed under deeds with similar provisions, making the principal sum payable at any time after 15 months from the date of the deed and 30 days from receipt of written demand from the …
This case concerned the bank’s claim against a guarantor Mr Justin John Brown. Mr Brown claimed he was removed as guarantor in respect of a facility to a business associate, Mr Lance Vincent Hodgkinson, for a commercial development. Mr Brown argued that the bank’s spoken words as to his removal as guarantor constituted misleading and …
The tenant fell behind in rental repayments and provided a mortgage over another property to the landlord to secure them. The landlord lodged a caveat over the property. The tenants alleged that at the time of executing the mortgage, the landlord had told him that if he signed the mortgage the landlord would allow time …
In this case the Court of appeal declined to enforce a guarantee given by the directors of a company in circumstances where only some of the intended guarantors got around to signing the guarantee (this is known as the Marston rule ). The document signed did not in fact contain a guarantee, the parties only …
This case concerned the meaning and operation of the clauses in a mortgage document, specifically, ‘Default interest’ and ‘Event of default’ clauses, as well as the right of the lender to charge a loan expiry fee. The mortgage agreement provided, in a relatively common form, that interest was payable at a “Higher Rate” but that …
The lender sought to recover amounts owing under a series of loans made to a partnership law firm of which Liebmann was a member. Liebmann denied personal liability for any of the loans, arguing that the firm was liable, there was an absence of authority to enter the loan agreements on his behalf, or that …
