STATHOPOULOS v WELNER LAWYERS PTY LTD and Another

78 VR 572·Attiwill J
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78 VR 572
STATHOPOULOS v WELNER LAWYERS PTY LTD and Another Supreme Court of VictoriaAttiwill J 29 September, 3 November 2025[2025] VSC 675Contract — Interpretation — Limitation of liability — Borrower entered loan agreement expressly in capacity as trustee — Trustee entitled to indemnity out of trust assets — Loan agreement provided for limitation on recourse of lender to trustee — Whether liability of trustee under loan agreement limited by clause providing for limitation on recourse of lender.

W was the trustee of a trust, the deed of which provided for the trustee’s indemnity out of the trust fund. W entered into a loan agreement (Loan Agreement) with S, pursuant to which S as lender advanced the sum of $530,000. D guaranteed W’s obligations under the Loan Agreement (Guarantee). The lender commenced proceedings seeking the principal, interest and costs, against W pursuant to the Loan Agreement and, in the alternative, against D pursuant to the Guarantee.

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