› where contract provided for broker to earn “saving fee” of 20% of “saved debt”
› where broker negotiated discharge of mortgage for less than amount secured but no reduction in personal indebtedness
› held, the definition of “saved debt” upon which entitlement to a “saving fee” depended was concerned with personal indebtedness not amount of any encumbrance
› the fee was not earned
Fiduciary Obligations
› whether relationship between accountant/financial adviser and client was fiduciary
› held, at least in connection with lending transaction it was not
› whether refinance transaction in interests of adviser and contrary to interests of client
› held, it was not
› whether restitution possible
› held, it was not, but if there was a breach of fiduciary obligation and restitution was possible there should be a just allowance by way of interest
Case Details
Citation[2019] NSWSC 683
CourtNSWSC
JurisdictionNew South Wales
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