CONTRACT — plaintiff suing as assignee of loan debt — whether debt purportedly assigned — whether assignments valid — whether debtors could assert that assignment was in fraud of creditors — original creditor estopped from denying validity of first assignment — plaintiff entitled to benefit of estoppel — limitation periods if initial assignments invalid — whether amendments relying on later assignments pleaded new causes of action — when amendments took effect
TRADE PRACTICES — misleading and deceptive conduct — whether defendants induced to invest on understanding that liability was limited to initial investment — defendants' conduct inconsistent with belief that loan was without recourse
TRADE PRACTICES — misleading and deceptive conduct — whether defendants induced to make investment by representations regarding funds available to promoter to carry out scheme — promoter's failure to provide information — where obligation of promoter to disclose all matters that might materially affect investor's decision — failure to disclose funding arrangements for the making of loans to investors — misrepresentation of moneys available to promoter to carry out scheme — whether non-disclosure and misrepresentation by original creditor a defence to action by assignee of debt — where time limit for claim under s 87(1A) of the Trade Practices Act 1974 has expired — whether debtor can seek avoidance of contract of loan as defence to action for debt — Trade Practices Act 1974 (Cth), s 52
Case Details
Citation[2012] NSWSC 1005
CourtNSWSC
JurisdictionNew South Wales
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