McLean v Westpac Banking Corporation

The appeal in McLean v Westpac Banking Corporation was heard by Newnes JA and Murphy JA of the Supreme Court of Western Australia's Court of Appeal. The appeal related to two actions brought by Westpac Banking Corporation against Shona McLean for possession of two residential properties, secured by mortgages on loans that Ms McLean had defaulted on. The central legal issue was whether Westpac had 'securitised' the loans, meaning they had been assigned to a third party, which Ms McLean claimed would prevent Westpac from enforcing the loan agreements or mortgages. The court had to determine the meaning of 'securitisation' in this context and assess whether Ms McLean's defence had any merit.

The court found that the defence of 'securitisation' was fundamentally flawed. The court determined that even if the loans had been securitised in some manner, it would not prevent Westpac from enforcing the loan agreements or mortgages since there had been no legal assignment to a third party. The court emphasised that Westpac's legal title to the loans and mortgages remained intact, allowing it to enforce its securities. The court also dismissed Ms McLean's other grounds of appeal, including claims of bias and improper legal representation, as misconceived. The appeals were ultimately dismissed as none of the grounds had a reasonable prospect of success.