Bonanno v Finamore [2022] NSWCA 276

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Bonanno v Finamore [2022] NSWCA 276 Hearing dates: 25 October 2022 Date of orders: 20 December 2022 Decision date: 20 December 2022 Before: Ward P at [1]; Macfarlan JA at [2]; Basten AJA at [55] Decision: (1) Grant leave to appeal; (2) Dismiss the appeal with costs. Catchwords: MORTGAGES AND SECURITIES — whether Deed recorded a transaction that was in substance a mortgage — whether obligation to transfer interest in property was a collateral advantage — unconscionability of obligation — Kreglinger (G&C) v New Patagonia Meat and Cold Storage Company Ltd [1914] AC 25 considered — Lord Parker's three propositions Legislation Cited: Real Property Act 1900 (NSW), s 57 Cases Cited: Australian Securities and Investments Commission v Kobelt (2019) 267 CLR 1; [2019] HCA 18 Epic Feast Ltd v Mawson KLM Holdings Pty Ltd (in liq) (1998) 71 SASR 161; [1998] SASC 6616 Gurfinkel v Bentley Pty Ltd (1966) 116 CLR 98; [1966] HCA 75 Handevel Pty Ltd v Comptroller of Stamps (Vic) (1985) 157 CLR 177; [1985] HCA 73 House v The King (1936) 55 CLR 499; [1936] HCA 40 Kreglinger (G & C) v New Patagonia Meat and Cold Storage Company Ltd [1914] AC 25 Lift Capital Partners Pty Ltd (in liq) v Merrill Lynch International (2009) 73 NSWLR 404; [2009] NSWSC 7 Waller v Hargraves Secured Investments Ltd (2012) 245 CLR 311; [2012] HCA 4 Westfield Holdings Ltd v Australian Capital Television Pty Ltd (1992) 32 NSWLR 194 Texts Cited: B Edgeworth, Butt's Land Law (Law Book Co, 7th ed, 2017) JD Heydon, MJ Leeming and PG Turner, Meagher, Gummow and Lehane's Equity: Doctrines and Remedies (5th ed, 2015, LexisNexis) K and SF Gray, Elements of Land Law (OUP, 5th ed, 2009) Category: Principal judgment Parties: Salvatore Antonio Bonanno (Appellant) Nicola Finamore (First Respondent) Weisen Zhou (Second Respondent) Representation: Counsel: G Foster (Appellant) S Aspinall / D Woods (Respondent)