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No stay on summary judgment pending determination of Financial Services Ombudsman
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High Court: (a) grants summary judgment in respect of three loans that had been transferred by the original lender to a new financial institution, notwithstanding that the borrowers had not signed the original offer letter, and that they claimed there had been an oral agreement to write down a portion of the loans; (b) transfers a claim for debts arising on a current account to plenary hearing, where the plaintiff had failed properly to establish that the account had been transferred by the original lender; and (c) refuses to place a stay on the orders for summary judgment pending the determination of a complaint to the Financial Services Ombudsman.
Summary debt recovery proceedings - three related actions - whether to grant stay pending determination of complaints to Financial Services Ombudsman - loans for purchase of property - transfer of loans to other financial institution - non-signature of offer letter - alleged agreement to write off loan shortfall - hearsay - estoppel - summary judgment.
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