Thompson v Perpetual Trustees Victoria Ltd [2021] NSWSC 622

Supreme Court New South Wales

Medium Neutral Citation: Thompson v Perpetual Trustees Victoria Ltd [2021] NSWSC 622 Hearing dates: 17 December 2020, 29 March 2021; last submissions received 9 April 2021 Date of orders: 4 June 2021 Decision date: 04 June 2021 Jurisdiction: Equity Before: Rees J Decision: Dismiss proceedings against first defendant. Catchwords: LIMITATION ACT – lender advances loan 14 years ago – fraudulent broker mis-directs funds to girlfriend – fraud discovered 12 years ago – broker imprisoned – plaintiffs repay lender 9 years ago – equitable claim against lender for unconscionable conduct – s 12GF(2), ASIC Act applies by analogy – whether unjust to apply – not unjust if applied from when plaintiffs aware of fraud. Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) ss 12BAA, 12BAB, 12CA, 12CB, 12GF Australian Securities and Investments Commission Regulations 2001 (Cth) reg 2B Corporations Act 2001 (Cth) s 1317K Crimes Act 1900 (NSW) s 176A Limitation Act 1969 (NSW) ss 11, 15, 23, 42, 47, 55 Trade Practices Act 1974 (Cth) s 87 Uniform Civil Procedure Rules 2005 (NSW) r 14.28 Cases Cited: Aboody v Ryan [2012] NSWCA 395; (2012) 17 BPR 32,359 Ainsworth v Criminal Justice Commission (1992) 175 CLR 564; [1992] HCA 10 Australian Securities and Investments Commission v Kobelt (2019) 267 CLR 1; [2019] HCA 18 Australian Securities and Investments Commission v National Exchange Pty Ltd (2005) 148 FCR 132; [2005] FCAFC 226 Barnes v Addy (1874) LR 9 Ch App 244 Belan v Casey (2003) 57 NSWLR 670; [2003] NSWSC 159 Finance & Guarantee Co Pty Ltd v Auswild [2019] VSC 664 Gerace v Auzhair Supplies Pty Ltd (in liq) (2014) 87 NSWLR 435; [2014] NSWCA 181 Gregg v Tasmanian Trustees Ltd (1997) 73 FCR 91; [1997] FCA 128 Hewitt v Henderson [2006] WASCA 233 Issa v Issa [2015] NSWSC 112 Jams 2 Pty Ltd v Stubbings [2020] VSCA 200 Jenyns v Public Curator (Qld) (1953) 90 CLR 113 Kakavas v Crown Melbourne Ltd (2013) 250 CLR 392; [2013] HCA 25 Knox v Gye (1872) LR 5 HL 656 Lewis Securities Ltd (In Liq) v Carter [2018] NSWCA 118; (2018) 128 ACSR 120 Lu v R [2014] NSWCCA 307 Sheldon v RHM Outhwaite (Underwriting Agencies) Ltd [1996] 1 AC 102 Sze Tu v Lowe (2014) 89 NSWLR 317; [2014] NSWCA 462 Tanwar Enterprises Pty Ltd v Cauchi (2003) 217 CLR 315; [2003] HCA 57 Thorne v Kennedy (2017) 263 CLR 85; [2017] HCA 49 Tonto Home Loans Australia Pty Ltd v Tavares [2011] NSWCA 389; (2011) 15 BPR 29,699 Tran v Perpetual Trustees Victoria Ltd [2012] NSWSC 1560 Ultimate Property Group Pty Ltd v Lord (2004) 60 NSWLR 646; [2004] NSWSC 114 Wardley Australia Ltd v Western Australia (1992) 175 CLR 514; [1992] HCA 55 Texts Cited: Peter Handford, Limitation of Actions – The Laws of Australia (2nd ed, 2007, Lawbook Co) Category: Procedural rulings Parties: Anne Thompson (First Plaintiff) Raymond Strachan (Second Plaintiff) Perpetual Trustees Victoria Ltd (First Defendant) Eric Minh Lu (Second Defendant) Thi Hong Tran Nguyen (Third Defendant) Representation: Counsel: D W Elliott (Plaintiffs/Respondents to motion) M A Collins (First Defendant/Applicant to motion) No appearance (Second Defendant) No appearance (Third Defendant)