Guarantees

Salta Constructions v St George Bank [2014] VSCA 289

We previously reported on the trial at first instance. This note is about the appeal. St George (as first ranking mortgagee) sold the property for $20 million and retained all the money against a debt it claimed was $54 million.  Salta Constructions (as second ranking mortgagee) argued that the bulk of the money claimed by St …

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Westpac v Knight Property Investments [2014] QSC 177 

The company defaulted on its loan and the lender sued the guarantor. The guarantor sued the lender and others for fraud, misleading and deceptive and unconscionable conduct and breach of the lender’s duty to sell the secured property at market value. The lender and others argued that the guarantor’s claim should be struck out. The …

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Adisan v Irwin [2014] NSWSC 1043

Joint venturers borrowed money guaranteed by four individuals. The guarantors agreed to a loan variation which included an additional guarantor. The lender sued the guarantors for the debt when the borrower failed to pay. One of the guarantors argued that his liability was discharged because when he signed the variation it had not been disclosed …

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Bank of Queensland v Banjanin [2014] QSC 131

The bank sued the guarantors for repayment of a $2m debt owed by their company. The guarantors counterclaimed for damages for having been lured into the borrowings by the bank in circumstances that were unjust because there was insufficient equity in the property and inadequate servicing capacity on their part to support the borrowings. The …

Bank of Queensland v Banjanin [2014] QSC 131 Read More »

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