Cows with gums: Bendigo and Adelaide Bank for once loses a case bought by a Great Southern agribusiness investor due to shambolic paperwork. (Photo: Kat Jayne)
A NSW court has dismissed loan recovery action by Bendigo and Adelaide Bank against an investor in several Great Southern Plantations schemes. It is not the first time the courts have knocked the bank back over similar recovery action, but more commonly these cases break for the lender.
The District Court of New South Wales decision late last week may encourage the more dogmatic investors in Great Southern schemes who borrowed to make their investments and are still being pursued a decade later for repayment of the loans.
The borrower in this case was Mrs Govindasamy, who p…
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