The borrower sought to stay of eviction in order to obtain advice as to setting aside judgment granted in 2002. The borrower had a rather complex history of business dealings and borrowings. He had two companies which had been liquidated for failure to repay loans he had guaranteed. However, the borrower sought to argue that …
Australian Regional Credit v Rukavina [2010] NSWSC 1466 Read More »
The borrowers sought to set aside a mortgage taken over the family home in 1988. The lender sought to enforce the mortgage. The interest rate on the mortgage was 20% per annum. This was not unusual, at the time of the loan the interest-rate on Court judgments was 18% per annum. The mortgage contained a …
In this case the lender sought to enforce a mortgage given by two elderly immigrants whose claimed unfamiliarity with English. The mortgage was given to secure a loan made to their son which was allegedly for the purpose of repaying a baseball bat wielding creditor. The parents sought to avoid the guarantee (and therefore the …
Reliance Financial Services v Sobbi [2010] NSWSC 236 Read More »
In this matter a Serbian immigrant, who was illiterate in English, who was on Centrelink benefits and had no job, obtained a compensation payout of $40,000 and decided to buy a unit. Some intermediary forged various documents and the loan was represented as being to a woman with a car and a dress making income. …
Perpetual Trustees Vic v Bodiroza [2010] NSWSC 238 Read More »
In late 2006 the Bank of Western Australia (the Bank) loaned over $32 million to Noble Growth Investment Limited to purchase the Fairmont resort in Leura. The loan was secured by a mortgage over the resort and a fixed and floating charge. In April 2009 Channel 9 program, A Current Affair, ran two “very critical” …
This involved a loan of $224,000 by way of first mortgage over the home unit of a borrower who was 74 years old, could not speak English, and who’s only apparent source of income was an aged persons pension of about $500 per fortnight. The case was interesting because it appears to have involved fraud. …
Perpetual Trustee Company v Kotevski [2009] NSWSC 1228 Read More »
In this matter a Serbian immigrant, who was illiterate in English, who was on Centrelink benefits and had no job, obtained a compensation payout of $40,000 and decided to buy a unit. Some intermediary forged various documents and the loan was represented as being to a woman with a car and a dress making income. …
Perpetual Trustees Victoria v Bodiroza [2009] NSWSC 861 Read More »
This was a unanimous decision of the Court of Appeal delivered by Young JA. It involved a Sri Lankan woman who claimed, through the medium of her husband, relief on the grounds of the undue influence of her husband under the Yerkey v Jones principle and Contracts Review Act. In relation to the husband’s involvement …
In this case the bank officer who witnessed the documents did not give evidence claiming “she was too busy”. The Court noted that bank could have subpoenaed her but did not and consequently drew a negative inference. The court determined that the borrower believed she was borrowing $400,000 not the actual amount of $680,000. The …
A man arranged a mortgage over a property to be purchased in the name of his mother-in-law, as he was a bankrupt and could not own property. This case involved an application by the mother-in-law to set aside part of the default judgment. The mother-in-law alleged her signature was forged on the documents, that she …
