Prime Capital Securities Pty Ltd v Gore Hill Transport Pty Ltd

[2021] NSWSC 169

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. Contracts
2. › construction and interpretation of contracts
3. › terms of loan approval provided for payment of all fees, costs and outlays payable herein if loan not drawn down within 30 days
4. › proposed loan did not proceed
5. › whether fees payable included establishment fee referred to in another section of loan approval
1. Contracts
2. › consideration
3. › lack of consideration
4. › illusory contracts
5. › loan approval
6. › lender given “absolute” discretion to decide whether valuation is satisfactory to it
7. › lender subject to implied obligations including to honestly consider valuation
8. › promises made by lender held not to be illusory
1. Mortgages and Securities
2. › charge
3. › creation of charge
4. › loan approval provides for charge over all property
5. › whether charge is valid when it does not refer to specific property
6. › charge claimed over identifiable property
7. › equitable charge held to be validly created

Citation[2021] NSWSC 169

CourtNSWSC

JurisdictionNew South Wales

The full text is available to signed-in members, including the 1 later case that cites this judgment.

Already have an account? Sign in