Bhundia v Sommers (No 4) [2021] NSWSC 455

Supreme Court New South Wales

Medium Neutral Citation: Bhundia v Sommers (No 4) [2021] NSWSC 455 Hearing dates: 27 April 2021 Decision date: 30 April 2021 Jurisdiction: Common Law Before: Adamson J Decision: (1) Judgment for the plaintiff against the first defendant. (2) Direct the parties to calculate the judgment sum in accordance with my reasons and provide an agreed figure to my Associate within seven days to permit the judgment sum to be entered. (3) Subject to order (4), order the first defendant to pay the plaintiff's costs of the proceedings. (4) If either party seeks an order other than the order in (3) above, the party is to make a written application to my Associate, together with any evidence relied upon and written submissions in support of the application within seven days and the other party is to provide evidence and written submissions by a further seven days with the intention that any such application or applications will be determined on the papers. Catchwords: CONTRACTS — Whether amount not payable on breach is a penalty — Whether interest rate claimed is a penalty – short-term unsecured bridging loan advanced by foreign investor PRACTICE AND PROCEDURE — Amount claimed in allegations made in statement of claim inconsistent with "relief claimed" section of the statement of claim COSTS — Party/Party — General rule that costs follow the event — Application of the rule Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Civil Procedure Act 2005 (NSW), s 100 Competition and Consumer Act 2010 (Cth), Sch 2 (Australian Consumer Law) Reserve Bank Act 1959 (Cth), s 85A Uniform Civil Procedure Rules 2005 (NSW), r 42.1 Cases Cited: Andrews v Australia and New Zealand Banking Group Limited (2012) 247 CLR 205; [2012] HCA 30 Bay Bon Investments Pty Ltd v Selvarajah [2008] NSWSC 1251 Paciocco v Australia & New Zealand Banking Group Ltd (2016) 258 CLR 525; [2016] HCA 28 Ringrow Pty Ltd v BP Australia Pty Ltd (2005) 224 CLR 656; [2005] HCA 71 Robophone Facilities Ltd v Blank [1966] 1 WLR 1428 Category: Principal judgment Parties: Sundip Bhundia (Plaintiff) Timothy John Sommers (First Defendant) Sean Patrick Neylon (Second Defendant) Representation: Counsel: D W Robertson (Plaintiff) J Rose (First Defendant)