Unjustness

ANZ v Fink [2015] NSWSC 506

This case involved a businessman’s dream home that went pear-shaped due to cost overruns. When the bank sought possession the borrower sought to blame the bank. Improvidence / Non-English speaking The borrower argued the bank should never have made the loan as it was improvident and they were vulnerable people:  There was no reason for …

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Perpetual Trustee v Bowie [2015] NSWSC 328

The lender sought possession and the borrower, who was on a disability pension claimed that the loan and mortgage were unjust under the Contracts Review Act and that the lender was negligent in advancing the loan. The borrower obtained a no doc loan to purchase a second residence while her house was being renovated on …

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Citigroup v Middling [2015] NSWSC 221

A borrower on a disability pension was conned by a loan originator to borrow against his home to make an investment that would pay off his remaining mortgage of $15,000 and give him a good return. The originator included false documents in the loan application for $240,000, including a false valuation. The investment was made, …

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NAB v Voukidis [2015] NSWSC 185

The bank sought possession. The wife initially sought to argue unjustness under the Contracts Review Act and unconscionability. These claims were abandoned and the bank was granted possession. The bank then sought monetary judgement so it could pursue the borrowers for any shortfall. In response, the wife then sought to reinstate her previous defences and …

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Landa v Perpetual Trustees Victoria [2014] NSWCA 393

We have previously reported the trial judge’s decision in this case. A doctor was hoodwinked by a fraudulent mortgage broker. The broker told the borrrower he was going to invest money the doctor had, as well as money he arranged for the doctor to borrow from Perpetual Victoria. Instead, he misappropiated it. The doctor sought declarations …

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NAB v Smith [2014] NSWSC 1605

A naive, simplistic salesman was talked into buying a two year old business where he worked as a salesman for $2 million. He had no inkling of the businesses financials but the bank did and encouraged him. The bank also fell victim to questionable documents emanating from a broker’s office.  The parents of the borrower …

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Bank of Queensland v Fitzgerald [2014] NSWSC 1599

The borrower raised a Contract’s Review Act arguing the lender engaged in “asset lending”.  The Bank conceded that this gave rise to a triable issue. However notwithstanding that triable issue, the bank argued it had an alternative basis for obtaining summary judgment, namely subrogation. This argument was, “even if the loan was unjust, you must …

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