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ARTICLE · 05 APRIL 2016

Enforcing mortgages and loan documents with allegedly forged signatures

The case reinforces the assumptions a lender may have when dealing with loan documents with allegedly forged signatures.

AustraliaFinance and Banking

Australia and New Zealand Banking Group Limited v Adventure Quest Paintball-Skirmish Pty Limited [2016] NSWSC 188

Introduction

Australia and New Zealand Banking Group Limited v Adventure Quest Paintball-Skirmish Pty Limited, has reinforced the assumptions a lender is entitled to have when dealing with loan documents that bear allegedly forged signatures.

Background

Adventure Quest Paintball-Skirmish Pty Limited (Adventure Quest) entered into loan agreements with ANZ in 2004 (2004 Loan) and 2009 (2009 Loan). The 2009 Loan subsumed the debt from the 2004 Loan, being approximately $100,000, and advanced a further $50,000. Two further overdraft facilities of $15,000 and $20,000 were also made available to Adventure Quest.

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