Huynh v Ledinh Sovereign Super Pty Ltd [2024] NSWCA 78

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Huynh v Ledinh Sovereign Super Pty Ltd [2024] NSWCA 78 Hearing dates: 20 March 2024 Date of orders: 11 April 2024 Decision date: 11 April 2024 Before: Bell CJ at [1]; Payne JA at [85]; Kirk JA at [86] Decision: Appeal dismissed with costs. Catchwords: CONTRACTS – Unjust contracts – Contracts Review Act 1980 (NSW), ss 7, 9 – Whether 6% monthly simple interest provision was relevantly unjust – Where mortgage was provided to a "lender of last resort" – Where debtor was advised by an independent solicitor of the applicable interest rates – Where primary judge varied the contract to remove the compounding element of the interest provision Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) ss 12CA, 12CC Competition and Consumer Act 2010 (Cth) sch 2 – Australian Consumer Law ss 232, 237 Contracts Review Act 1980 (NSW) ss 4, 7, 9 Real Property Act 1900 (NSW) s 57 Cases Cited: Driat Pty Ltd v Thomas [2012] NSWSC 683 Guardian Mortgages Pty Ltd v Miller [2004] NSWSC 1236; (2004) 12 BPR 22,833 Haiqin Lu v Qindi Shen; Weiren Jin v Qindi Shen [2018] NSWSC 560 Mizzi v Reliance Financial Services Pty Ltd [2007] NSWSC 37 Nemeth v Australian Litigation Funders Pty Ltd [2014] NSWCA 198 Perpetual Trustee Company Limited v Albert and Rose Khoshaba [2006] NSWCA 41; (2006) 14 BPR 26,639 Takemura v National Australia Bank Ltd [2003] NSWSC 339; (2003) 11 BPR 21,185 Category: Principal judgment Parties: Thuc Tran Huynh (First Appellant) Chau Quach (Second Appellant) Ledinh Sovereign Super Pty Ltd (Respondent) Representation: Counsel: