Madgwicks recently represented John Rose, a successful plastics manufacturer turned investor, in a significant case against the National Australia Bank (NAB). Rose had been conned by a business partner to invest in a high end Gold Coast property investment scheme which resulted in the loss of his entire initial investment (approximately $5 million) and additional profit.

When Rose’s business partner “went to ground” and subsequently became bankrupt, Rose was left as the only possible source of recovery for NAB.

Madgwicks devised a legal strategy that drew on the circumstances surrounding the signing of the guarantees and the fact that NAB was a party to the Code of Banking Practice (the Code), which sets out how a bank should conduct its business, and the banking industry’s key commitments and obligations to customers.

In this instance Justice Elliott in the Victorian Supreme Court ruled that the Code was legally enforceable as a contract, meaning that the guarantees Rose had signed were unenforceable. Walker won what many would have thought an unwinnable battle!

 

Latest Firm News

Workplace Relations and Safety Partner Luisa Gonzaga a Partner of the Year Finalist

Congratulations to Madgwicks Lawyers Partner Luisa Gonzaga who has been nominated as a finalist in the Lawyers Weekly Partner of the Year Awards 2022. The Partner of the Year Awards is the Australian legal industry’s premier event in recognising partners...
15 June, 2022
2021 Meritas ‘Elite’ Law Firm Network

2022 Meritas ‘Elite’ Law Firm Network

For the eighth year in succession legal-market researchers Chambers and Partners has awarded Meritas the highest rated ‘Elite’ status in their annual rankings of Law Firm Networks. Chambers outlines the exacting criteria for ‘Elite’ networks in their commentary for the...
9 June, 2022

Madgwicks announces six promotions after a year of growth despite COVID

In a bumper round of promotions, Madgwicks is delighted to promote six of its extraordinary young talents in recognition of their expertise and dedication to the firm and its clients. Chris Vlahos, Aleksandar Kovaceski, Bethany Visser, Melissa Passarelli, Bo Zhou...
1 June, 2022