The plaintiff (Mizzi) was a widowed pensioner of Maltese origin with very limited English and very limited IQ. She was asked by her grandson Stefan Martin Allan for a mortgage over her home. She duly mortgaged her home to clients of RL Kremnizer and when the mortgage went into default proceedings were brought for possession. …
Mizzi v Reliance Financial Services [2007] NSWSC 37 Read More »
In this case a mortgage was given to finance the purchase of a block of flats from a 90 year old lady suffering from dementia. The 90 old lady did not receive any of the purchase proceeds and denied selling her property. A caveat was placed on the property on behalf of the 90 year …
In this case an elderly lady made a loan for $600k to her solicitor in exchange for a mortgage over his property at Potts Point, Sydney. The borrower sent a mortgage instrument to the lender which only mentioned the folio identifier of the property. The lender assumed that the folio identifier was for the Potts …
In this case the lender made three separate loans to two borrowers on second, third and fourth ranking mortgages. The value of the land was grossly misrepresented and the lender was able to recover nothing from the land. These proceedings were brought against the two borrowers in debt and the broker in deceit. All three …
Superior Diamond Products v Camilleri [2006] NSWSC 1169 Read More »
The owners of a property at Kingsford are presently seeking to have the full amount of the monies owed to the lender recovered from a solicitor. In April 2005 the solicitor received an email from a fraudster (claiming to be a friend of the property owners) asking for a new CT. The solicitor obtained a …
Chandra v Perpetual Trustee Victoria [2006] NSWSC 1046 Read More »
In this case a property development went badly wrong and the CBA who loaned the construction finance went after the property developer on his personal guarantee. He sought in the Federal Court to have the guarantee set aside on the grounds of misrepresentation by the bank. In affidavits and pleadings in the Federal Court he …
In this case the opponent solicitor, Peter Lyle Sharpe, was struck off the roll of solicitors after being found guilty by a criminal court of twenty-three counts of offences of making false or misleading statement with intent to obtain a valuable thing, contrary to s178BB of the Crimes Act 1900 (NSW) arising out the Tietyens …
Prothonotary of the Supreme Court v Sharp [2006] NSWCA 27 Read More »
The plaintiffs borrowed money from the second defendant, Liberty Funding (“LF”), secured over their land by mortgage. The plaintiffs claimed that the loan agreements and the mortgages were procured by fraud or unconscionable conduct or other wrongdoing and should be set aside. The thrust of the Plaintiffs’ complaint was directed to alleged misconduct on the …
Steele-Smith v Liberty Financial [2005] NSWSC 398 Read More »
Upon the borrower’s default in making repayments Chen (the lender), claimed possession of properties secured by registered mortgages purportedly granted by the Songs (the borrower), as well as the balance due under the mortgages. The borrower alleged the signatures on the mortgages were forged so that there was no agreement, that if there was an …
This was an appeal from Master Harrison who gave summary judgment for a lender (Perpetual) against a borrower (Tsai). The order was that the lender got possession of the subject premises and that the borrower was to pay the lender a sum of money in excess of $500,000. The statement of claim was filed on …
Perpetual Trustees Victoria v Tsai [2004] NSWSC 745 Read More »
