*/
Bank – Bank loan. The claimant bank issued the proceedings for repayment of a loan partner capital subscription loan made to the defendant, together with interest. The Commercial Court, in allowing the application, dismissed the defendant's defences that: (i) he had undertaken no obligation to repay the loan; (ii) the loan agreement was unenforceable as a sham; (iii) he had never received the loan proceeds; (iv) the bank had made a misrepresentation; and (v) the loan agreement had given rise to an unfair debtor-creditor relationship. It further rejected his counterclaim that the bank had been negligent and found that the firm had made no repayments on his behalf.
Bank – Bank loan. The claimant bank issued the proceedings for repayment of a loan partner capital subscription loan made to the defendant, together with interest. The Commercial Court, in allowing the application, dismissed the defendant's defences that: (i) he had undertaken no obligation to repay the loan; (ii) the loan agreement was unenforceable as a sham; (iii) he had never received the loan proceeds; (iv) the bank had made a misrepresentation; and (v) the loan agreement had given rise to an unfair debtor-creditor relationship. It further rejected his counterclaim that the bank had been negligent and found that the firm had made no repayments on his behalf.
Our call for sufficient resources for the justice system and for the Bar to scrutinise the BSB’s latest consultation
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