5. They refinanced the Westpac loan with BankWest (which subsequently became the CBA) in 2007. The CBA eventually sued Mr Wood under a guarantee that he had given in respect of the refinance.
6. Mr Wood alleged in his defence that the CBA breached the Code by not drawing to his attention various matters required by the Code, and importantly, that he would not have entered into the guarantee had he known its full terms and effect.
7. The defence failed on the second point.
