In the case of Birbilis v GAP Home Loans (Aust) Custodians Pty Limited [2024] QSC 222, the Supreme Court of Queensland dismissed the plaintiffs' claim against the defendant, a lending institution. The plaintiffs, members of the Birbilis family who were involved in a furniture manufacturing business, alleged that the defendant misrepresented its membership in the Australian Financial Complaints Authority (AFCA) to induce them into entering into loan agreements, guarantees, and mortgages. The plaintiffs argued that the contracts should be invalidated due to this misleading conduct. However, the court found no evidence of misleading representation attributable to the defendant and noted that the plaintiffs did not rely on such a claim when entering the agreements. As a result, the plaintiffs were ordered to pay the legal costs incurred by the defendant. Additionally, the court instructed both parties to finalize their calculations regarding interest and outstanding debt for further proceedings on the counterclaim.
Full text: https://www.sclqld.org.au/caselaw/149093