Summary Judgment

Raging Thunder v BankWest [2012] QSC 329

Bank West advances $37M on dodgy presales and ‘suffers major losses’, but that was not the end of the woes…  This was a dispute between Bank West who held the first mortgage and the former owner of the property who provided vendor finance in return for a second mortgage.   The development was a failure and …

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GE Mortgage Solutions v Escalante [2012] WASC 377

The borrower defaulted and the lender sought default judgment. The registrar refused because the borrower was only a few hundred dollars in arrears and adjourned the application. The lender appealed. Master Sanderson found for the lender noting: It is not for a registrar or a master or a judge to take a position as to …

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Bank of Western Australia v Tannous [2012] NSWSC 559

A son allegedly forged his mother’s signature on mortgage given to Firstfolio. The Firstfolio mortgage was subsequently refinanced by a mortgage given to Bankwest. This time the mother’s signature was allegedly forged by the father. Bankwest claimed possession. The mother defended on the grounds of fraud and unjustness under the Contracts Review Act. Her circumstances …

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Citigroup v Stonehouse [2012] WASC 160

Stonehouse argued that the trustee of his family trust was the borrower and not him. The judge rejected this noting: A cursory reading of the security documents shows that not to be the case. The terms of the agreement make it plain he and the family trustee are primarily liable for the loan. It is …

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Westpac v Tesoro [2012] VSC 182

The lender applied for summary judgment against the borrower, seeking possession and a sum of money. The loan and mortgage were Code regulated. The borrower argued that the default notice failed to comply with the Code. The borrower also sought to vary the terms of the loan and mortgage pursuant to section 74 of the …

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Rural Bank v Merriba [2012] NSWSC 498

Two brothers are shareholders in the company owning the farm. The brothers were the borrowers, the company was the guarantee. The company gave a mortgage over the farm to secure its obligations under the guarantee. Their liability was joint and several. A mortgage was granted over the farm by the company and a company guarantee …

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