NSW Caselaw
New South Wales Supreme Court
CITATION : Michalopoulos v Perpetual Trustees Victoria Ltd & Anor [2010] NSWSC 1450
HEARING DATE(S) : 15-18 February 2010; 22-25 February 2010
JUDGMENT DATE : 16 December 2010
JURISDICTION : Equity
JUDGMENT OF : White J
DECISION : Counsel for the 2nd defendant to bring in short minutes of order in accordance with reasons.
CATCHWORDS : CONTRACTS – where plaintiffs mortgaged home to secure loan for speculative property investment – plaintiffs induced by representations made by property developer to whom they were introduced by their son – plaintiffs in position of special disadvantage – plaintiffs signed incomplete loan documents – loan documents completed by plaintiffs' agent with materially false statements as to plaintiffs' occupation, financial position and loan purpose – mortgage originator submitted loan application to finance company to arrange loan – no proper verification of details in loan documents – plaintiffs signed further loan documents containing false statements – plaintiffs defaulted and refinanced with different lender to avoid foreclosure – second loan application contained materially false statements and not properly verified – portion of proceeds of second loan disbursed without plaintiff's authority - TRADE PRACTICES – whether lender engaged in unconscionable conduct in contravention of ss 51AA, 51AB or 51AC of Trade Practices Act 1974 (Cth) - CONTRACTS – whether loan "unjust" under Contracts Review Act – whether lender through agent should have known of false statements in loan applications – whether lender through agent should have known of plaintiffs' position of disadvantage – whether lenders engaged in "pure asset lending" - CONTRACTS – whether mortgage originator engaged in misleading or deceptive conduct in contravention of s 52 of Trade Practices Act by submitting documents containing false representations to lender - CONTRACTS – whether breach of solicitor's retainer to disburse loan proceeds otherwise than in accordance with plaintiffs' directions - TRADE PRACTICES – whether property developer and plaintiffs' son engaged in misleading or deceptive conduct in contravention of s 42 of Fair Trading Act
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate