• Guarantor Relieved of Obligation to Pay Due to Bank Error

    guarantor

    Guarantor relieved of obligation to pay because Bank failed to adhere to a voluntary industry code.

    In the matter of National Australia Bank Limited v John Albert Rose [2016] VSCA 169, the Victorian Supreme Court of Appeal held that a guarantor was not required to repay loans totalling more than $8 million because the bank failed to comply with the Code of Banking Practice.

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