ARTICLE · 04 OCTOBER 2015

Can you guarantee your security?

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Discussion of Alceon Group Pty Ltd v Rose [2015] NSWSC 868.

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TRICKS AND TIPS FOR LENDERS, BORROWERS AND LAWYERS

Alceon Group Pty Ltd v Rose [2015] NSWSC 868

In the lending business, personal guarantees are common practice. However, any financial transaction can pose substantial risks for guarantors, lenders and lawyers.

Below, we outline a recent important Supreme Court of New South Wales decision in which a guarantor was successful in having a guarantee set aside, despite having received legal advice prior to executing the guarantee.

ClarkeKann's new Litigation & Insolvency Partner, Chris Kintis, represented the successful guarantor in the Supreme Court and together with Sophie Clark, provides an insight into the case.

SUMMARY OF KEY FACTS

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