NZI Capital Corp Ltd v Poignand, Roger James & Ors [1997] FCA 963

FEDERAL COURT OF AUSTRALIA Equity - unconscionability - mortgage and guarantee - lack of assistance where assistance or explanation necessary - serious disadvantage - right to set aside mortgage and guarantee - whether transaction sould be set aside conditionally - terms and conditions of any relief sought. Blomley v Ryan (1956) 99 CLR 362 - considered Commercial Bank of Australia Limited v Amadio (1983) 151 CLR 447 - considered Vadasz v Pioneer Concrete (SA) Pty Limited (1995) 184 CLR 102 - considered Maguire v Makaronis (1997) 144 ALR 729 - considered NZI CAPITAL CORPORATION LIMITED v ROGER JAMES POIGNAND & ORS No. NG 620 of 1992 JUDGE: BEAUMONT J DATE OF JUDGEMENT: 20 AUGUST 1997 DATE OF ORDER: 8 SEPTEMBER 1997 PLACE: SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 620 of 1992

BETWEEN: NZI CAPITAL CORPORATION LIMITED

Applicant

AND: ROGER JAMES POIGNAND

FIRST Respondent

JOHN DALTON COURTNEY

SECOND RESPONDENT

PETER WILLIAM METCALFE

THIRD RESPONDENT

W L HAWKE HOLDINGS PTY LIMITED

FOURTH RESPONDENT

ARTHUR JOHN EMMETT

FIFTH RESPONDENT

VICTOR MALCOLM PANNIKOTE

SIXTH RESPONDENT

VICTOR PANNIKOTE HOLDINGS PTY LIMITED

SEVENTH RESPONDENT

HAROLD VICTOR HOLDEN

EIGHTH RESPONDENT

MARGARET ISOBEL FULTON

NINTH RESPONDENT

MARGARET FULTON ENTERPRISES PTY LIMITED

TENTH RESPONDENT

AND BETWEEN: MARGARET ISOBEL FULTON

CROSS-CLAIMANT TO FOURTH CROSS-CLAIM

AND NZI CAPITAL CORPORATION LIMITED

FIRST CROSS-RESPONDENT TO FOURTH CROSS-CLAIM

ROGER JAMES POIGNAND