Stubbings v Jams 2 International Pty Ltd

The High Court held that while asset-based lending is not inherently unconscionable, a loan and securities may be set aside in equity (and as unconscionable conduct) where the lender, through a system designed to avoid actual knowledge, exploits a borrower's special disadvantage; boilerplate certificates of independent advice are 'window dressing' that do not cure unconscionability.