Elderly parents successfully sue daughter for $367,000 over unpaid loan

An accountant has been told to repay her elderly parents more than $360,000 borrowed without a written record of the terms.

Colleen Warin said the money borrowed from her parents Marian and Trevor Warin was only to be repaid as her circumstances allowed.

But an associate judge in the High Court at Wellington has found Colleen Warin failed to pay, despite repeated requests, and had no defence to the claim for $367,903.90.She should pay it back plus interest, and an unspecified amount of costs, the judge said.

In a recent Facebook posting attributed to Marian Warin, she talked about the case.

You know who you are that have borrowed off us, and have all these excuses as to why you cant [sic] hold a job down and can't pay your loans.
"You need to get jobs and borrow off the bank like normal people.
"Trevor and I are not a bank."

 Marian Warin had explained in her evidence that she and her husband had trusted their daughter, and she was a chartered accountant. The couple had built up some money through farming, but were naive about financial matters, she said.

Yahoo News