Litigation arising from loan was for improper motive

High Court grants order dismissing action against two defendants, arising from a loan contract in 2007 that was alleged by the borrower to have been 'interest only' for 25 years, but where the purchaser of the loan claimed the 'interest only' period expired after five years, on the grounds that: (a) the borrower made serious allegations of fraud, deceit and forgery without giving particulars of same as required by the rules of court; (b) a bare allegation that a party might have created fraudulent documentation was not sufficient to resist an application to dismiss an action, but required some evidential basis; (c) the true purpose of the proceedings appeared to be an attempt to flush out documentation by way of discovery that might be used in other proceedings, which was not permissible; and (d) it was not permissible to use proceedings of the sort to frustrate proceedings by other parties.