OPINION by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au During 2008 the Commonwealth Bank made loans totalling $13.5 million to Matthew Perrin, his wife Nicole and their family company. Among other securities, the bank relied on guarantees and mortgages apparently signed by Nicole. Some of these encumbered Perrins’ (previously unencumbered) sprawling Cronin Island family home held in Nicole’s name. Within six months Matthew, but not Nicole, was bankrupt. When the bank eventually sued...
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