Sialepis -v- Westpac [2001] NSWSC 101

New South Wales Supreme Court

CITATION : Sialepis -v- Westpac [2001] NSWSC 101 CURRENT JURISDICTION: Equity Division Commercial List FILE NUMBER(S) : SC 50065/96 HEARING DATE(S) : 14.8.00, 15.8.00, 16.8.00, 17.8.00, 21.8.00, 22.8.00, 23.8.00, 24.8.00, 25.8.00, 31.8.00,1.9.00 JUDGMENT DATE : 6 March 2001

PARTIES : Dimitra Jane Sialepis -v- Westpac Banking Corporation & Ors JUDGMENT OF : Hunter J

COUNSEL : Plaintiff: A. S. Howen Second Defendant: L G Foster SC SOLICITORS : Plaintiff: Photios Vouroudis & Co Second Defendant: Hunt & Hunt CATCHWORDS : Contract - third party mortgage - mortgagee bank misrepresentations - misleading and deceptive conduct - negligence - unjust circumstances - unconscionable conduct. Trade Practices Act 1974 (Cth) LEGISLATION CITED : Fair Trading Act 1987 (NSW) Contracts Review Act 1980 (NSW) Real Property Act 1900 (NSW) CASES CITED : Robinson -v- Watts (2000) NSWSC 584 Garcia v National Australia Bank (1988) 194 CLR 395 DECISION : Summons dismissed with costs.

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION COMMERCIAL LIST

6 MARCH 2001

HUNTER J

50065/96 DIMITRA JANE SIALEPIS -v- WESTPAC BANKING CORPORATION & ORS REASONS FOR JUDGMENT 1 On 3 July 1992 the plaintiff, Dimitra Sialepis, executed a third party mortgage (the mortgage) to the second defendant ( the bank) over her then matrimonial home, situated in the Sydney suburb of Cronulla (the Cronulla property) as joint proprietor of the Cronulla property with her then husband, the first defendant (Sialepis), and his mother, the fourth defendant (Effie Sialepis), to secure the repayment of "advances or accommodation" granted by the bank to "Sialepis Pty Ltd … either alone or jointly with any other person". 2 Sialepis Pty Ltd (the company) was the recipient of facilities approved by the bank in its letter of offer dated 26 May 1992 (the bank's facilities offer) which included the following : "a) Commercial Bill Line of $3,600,000 (the Condor Lakes facility)