GE Mortgage Solutions Limited v Jane Susan Fassos [2012] NSWSC 1446

Supreme Court New South Wales

Medium Neutral Citation: GE Mortgage Solutions Limited v Jane Susan Fassos [2012] NSWSC 1446 Hearing dates: 14, 15, 16 and 17 May 2012 Decision date: 03 December 2012 Before: Bellew J Decision: 1. I enter judgment for the plaintiff. 2. I direct the parties to prepare Short Minutes of Order giving effect to the conclusions I have reached in this judgment. 3. I stand the proceedings over for further directions before me on Monday 10 December 2012 at 9.15 am. Catchwords: CONTRACTS REVIEW ACT - claim for possession by Mortgagee/lender - cross claim for relief under Contracts Review Act by Mortgagor/borrower - whether purpose of borrowing disentitled borrower to relief under the Act - where false information provided by the borrower in application for loan - whether provision of false information disentitled borrower to relief under the Act - conduct of lender - whether lender engaged in asset lending - whether lender failed to observe lending guidelines - whether contract unjust - whether discretionary relief should be granted

WORDS AND PHRASES - "asset lending" - "lo-doc loan" Legislation Cited: Contracts Review Act 1980 Cases Cited: Agricultural and Rural Finance Pty Ltd v Atkinson [2010] NSWSC 635 Australian Bank Limited v Stokes (1985) 3 NSWLR 174 Bank of Western Australia Limited v Primanzon [2010] NSWSC 862 Commonwealth Bank of Australia v Munro [2011] NSWSC 128 Commonwealth Bank of Australia v Roubas [1997] NSWSC 475 Ellison v Vukicevic (1986) 7 NSWLR 104Fast Fix Loans Pty Ltd v Samardzic [2011] NSWSC 260 Ford v Perpetual Trustees Victoria Limited [2009] NSWCA 186; 75 NSWLR 42 Permanent Mortgages Pty Ltd v McFadyen [2012] NSWSC 130 Perpetual Trustees Victoria Limited v Longobardi [2009] NSWSC 654 RHG Mortgage Corporation Limited v Baira [2011] NSWSC 520 Tonto Home Loans Australia Pty Ltd v Tavares; FirstMac Ltd v Di Benedetto; FirstMac Ltd v O'Donnell [2011] NSWCA 389 Toscano v Holland Securities Pty Limited (1985) 1 NSWLR 145 Category: Principal judgment Parties: GE Mortgage Solutions Limited (plaintiff / cross defendant)