Trusted by the judiciary, government lawyers, prosecutors, and many leading counsel. Click here to request a subscription.
Trusted by the judiciary, government lawyers, prosecutors, and many leading counsel.
Click here to request a subscription.
Bank entitled to judgment against experienced property developer in default
|
or click here to request site subscription to search and view all judgments |
High Court, in determining two separate but related sets of proceedings, grants judgment in defendant bank's favour and against property developer in respect of various commercial loan facilities now in default and dismisses all of plaintiff's claims alleging, variously, breach of contract, negligence, breach of duty, and misrepresentations on the part of the bank, its receivers and solicitors.
Related proceedings - plaintiff as property developer suing bank and their appointed receivers for alleged breach of contract in respect of various commercial property loans - bank also seeking judgment for debt due and owing - complex pleadings - seven major issues - whether specific common areas were intended to be included in security granted by plaintiff to bank - whether defendant bank's solicitors negligent in not noticing purported mistake relating to security - whether bank made representations to plaintiff regarding funding - whether amalgamation of loans was unlawful - whether receivers had a conflict of interest - conduct of trial - latitude to plaintiff as lay litigant - dissolution of plaintiff's company - initial loan facility - evidence in respect of common areas - plaintiff knew he was in fact mortgaging the common areas - expert evidence - subsequent loan facilities - no representations made in respect of continued funding following evidence of witnesses - no conflict of interest shown - no evidence that receivers failed in their duty to maintain assets properly - numerous further allegations unfounded - judgment entered in favour of bank.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
