HP Mercantile Pty Limited v Dominic MarinelliHP Mercantile Pty Limited v Mario TurcoHP Mercantile Pty Limited v Victor Turco [2008] NSWDC 118

New South Wales District Court

CITATION: HP Mercantile Pty Limited v Dominic MarinelliHP Mercantile Pty Limited v Mario TurcoHP Mercantile Pty Limited v Victor Turco [2008] NSWDC 118

HEARING DATE(S): 3/3/08 - 6/3/08, 10/3/08 - 12/3/08, 10/6/08

JUDGMENT DATE: 14 July 2008

JURISDICTION: Civil

JUDGMENT OF: Rolfe DCJ

DECISION: See paragraphs 94-97 of Judgment

CATCHWORDS: Agricultural Project Investment Schemes - Assignments of Debts - Whether earlier Assignments were effected prior to Assignments of debts in favour of Plaintiff - Whether Assignment partial only

LEGISLATION CITED: Evidence Act 1995 (NSW) Conveyancing Act 1912 (NSW)

HP Mercantile Pty Limited (Plaintiff) PARTIES: Dominic Marinelli (Defendant) Mario Turco (Defendant) Victor Turco (Defendant)

FILE NUMBER(S): 4413/02; 5593/02; 5594/02

COUNSEL: R Margo SC (Plaintiff) G Ellis SC (Defendants)

JUDGMENT

1 There are three proceedings before the Court all of which were heard together, so that the evidentiary rulings in one matter applied to all three. In all three proceedings HP Mercantile Pty Limited is the plaintiff. In all three proceedings the plaintiff seeks to recover from the defendants monies lent to the defendants for investment in three agricultural projects described in the evidence as the Coonabarabran Orchard Project, the Queensland Orchard Project and the Treetop Project. The plaintiff was not the original lender. Relevantly, the lender was Tumut River Orchard Management ("TROM"). The plaintiff, as an assignee of the debts, seeks to recover the loans through a number of assignments.

2 The background of the case is as follows.