Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
National Australia Bank Ltd v Hann Nominees Pty Ltd [1999] FCA 1262
NATIONAL AUSTRALIA BANK v HANN NOMINEES PTY LTD
VG 144 OF 1994 RYAN J MELBOURNE 13 SEPTEMBER 1999
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY VG 144 OF 1994
BETWEEN: NATIONAL AUSTRALIA BANK
Applicant
AND: HANN NOMINEES PTY LTD
Respondent
JUDGE: RYAN J
DATE OF ORDER: 13 SEPTEMBER 1999
WHERE MADE: MELBOURNE
MINUTES OF ORDER
THE COURT ORDERS: 1. That there be judgment for the applicant in an amount of damages calculated in accordance with paragraph 145 of the reasons for judgment published this day reduced by 20% for contributory negligence. 2. That the application herein be adjourned to a date to be fixed for submissions, if necessary, on interest and costs. 3. That liberty be reserved to either party to apply on not less than 48 hours notice in writing to the other party. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY VG 144 OF 1994
BETWEEN: NATIONAL AUSTRALIA BANK
Applicant
AND: HANN NOMINEES PTY LTD
Respondent
JUDGE: RYAN J
DATE: 13 SEPTEMBER 1999
PLACE: MELBOURNE
REASONS FOR JUDGMENT THE FACTUAL BACKGROUND 1 In 1990 Sandhurst Trustees Limited ("Sandhurst") referred a number of borrowers then on its books, including Denis Dean Nominees Pty Ltd ("Denis Dean") to the applicant ("the Bank"). Before August 1990, Denis Dean made an application to the Bank for a loan ("the loan application") and this was supported by a valuation from the respondent, addressed to Sandhurst, of property which had secured an existing loan from Sandhurst to Denis Dean. The property comprising the security was situated within the Shire of Shepparton, immediately to the south of the City of Shepparton, at the intersection of the Melbourne Road and Kialla Lakes Drive and was known as "Dean's land" ("the subject property"). 2 The application to the Bank by Denis Dean was made in the first instance to Mr Fidler, the manager of the Bendigo branch of the Bank. The Bank, however, later informed Denis Dean that a valuation addressed to it would be required. A valuation by the respondent, addressed to the Bank and dated 27 July 1990 was subsequently received by the Bank ("the subject valuation"). 3 The subject valuation was in the following terms:
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