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Billabong entrepreneur forged signature to obtain $13m loan

The Brisbane Supreme Court won’t assist the Commonwealth Bank (CBA) to recover a $13.5 million loan, after it ruled Billabong entrepreneur Matthew Perrin forged his ex-wife’s signature to secure the money.

According to The Australian, Perrin borrowed $13.5 million from CBA in 2008 after providing documents and a mortgage guarantee taken out on his Gold Coast home. It turns out the home was in his wife, Nicole Perrin’s, name at the time.

Nicole Perrin, now divorced from her husband, gave evidence in court that he forged her signature without her knowing. CBA lawyers argued they were her signatures, and that her husband had authority to sign for her.

Supreme Court Justice Philip McMurdo didn’t agree, and cleared Nicole Perrin of any responsibility to repay the loan. McMurdo said evidence given by handwriting experts supported her testimony, and said there was no evidence she’d given her ex-husband authority to sign on her behalf.

“I would find that she did not sign any of the documents the subject of the so-called disputed signatures.”

Justice McMurdo has dismissed the CBA’s claim.

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Lorna Brett

Lorna Brett

Lorna was Dynamic Business’ Social Web Editor in 2011/12. She’s a social media obsessed journalist, who has a passion for small business. Outside the 9 to 5, you’re likely to find her trawling the web for online bargains, perfecting her amateur photography skills or enjoying one too many cappucinos. You can follow her on <a href="https://twitter.com/#!/dynamicbusiness">Twitter @DynamicBusiness</a>

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