Deangrove Pty Ltd v Commonwealth Bank of Australia [2003] FCA 470

FEDERAL COURT OF AUSTRALIA

Deangrove Pty Ltd v Commonwealth Bank of Australia [2003] FCA 470

TRADE PRACTICES – misleading and deceptive conduct – unconscionable conduct – applicants executed an equitable charge and personal guarantee in favour of the respondent bank – bank said to have taken over critical negotiations between applicants and a third party – applicants said to have relied on representation that an irrevocable commitment or undertaking had been reached – evidence of witnesses in irreconcilable conflict – factual foundation of applicant's case not made out Trade Practices Act 1974, ss 51AA, 51AC, 52, 87 Deangrove Pty Ltd (Receivers and Managers Appointed) v Commonwealth Bank of Australia (2001) 108 FCR 77 cited. Deangrove Pty Ltd (Receivers and Managers Appointed) v Commonwealth Bank of Australia [2001] FCA 1724 cited. Deangrove Pty Ltd (Receivers and Managers Appointed) v Commonwealth Bank of Australia [2002] FCA 1352 cited. Deangrove Pty Ltd (Receivers and Managers Appointed) v Commonwealth Bank of Australia [2002] FCA 1545 cited. Deangrove Pty Ltd (Receivers and Managers Appointed) v Commonwealth Bank of Australia [2003] FCA 268 cited. Australian Competition and Consumer Commission v CG Berbatis Holdings Pty Ltd [2003] HCA 18 cited. Fox v Percy [2003] HCA 22 cited. Jones v Dunkel (1959) 101 CLR 298 cited. DEANGROVE Pty Ltd (RECEIVERS & MANAGERS APPOINTED) & ANOR v COMMONWEALTH BANK OF AUSTRALIA & ORS N 1142 OF 2000 SACKVILLE J SYDNEY 16 MAY 2003

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N 1142 OF 2000

BETWEEN: DEANGROVE PTY LIMITED (RECEIVERS AND MANAGERS APPOINTED)

FIRST APPLICANT

JOHN ANTHONY JEANS

SECOND APPLICANT

AND: COMMONWEALTH BANK OF AUSTRALIA

RESPONDENT