Worth the paper they are written on – the importance of independent advice certificates in financing transactions
Socrates famously said “to find yourself, think for yourself.” The Victorian Court of Appeal recently disagreed and reasserted the ability of lenders to rely on independent legal and financial advice certificates without making further inquiries of their own. Jams 2 Pty Ltd v Stubbings [2020] VSCA 200 involved “asset-based lending”, lending on the value of […]
ReadmoreCOVID-19 | 2020 The Year of COVID, or Year of the Pivot?
The COVID-19 pandemic has affected society and business more than any event in recent history. It has not spared any industry or sector, creating immense opportunity for a lucky few and decimating many others. In response, Gadens have seen businesses pivot, whether by expanding their service offering, changing their method of delivery or reallocating their […]
ReadmoreRed card for borrower claiming application fee as penalty
With the recent lending slowdown in the Australian banking sector, lead by the Banking Royal Commission, tougher lending standards and tighter serviceability requirements, demand for alternative non-bank lenders continues to increase. It is common for a non-bank lender’s lending terms to include an up-front arrangement or origination fee in respect of the establishment of the […]
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