Wily as Administrator of Macquarie Medical Holdings Pty Ltd & Ors v Endeavour Health Care Services Pty Ltd & Ors [2003] NSWCA 321

New South Wales Court of Appeal

CITATION : Wily as Administrator of Macquarie Medical Holdings Pty Ltd & Ors v Endeavour Health Care Services Pty Ltd & Ors [2003] NSWCA 321 HEARING DATE(S) : 03/10/03 JUDGMENT DATE : 11 November 2003

JUDGMENT OF : Meagher JA at 1; Santow JA at 22; Davies AJA at 23 DECISION : Appeal dismissed with Costs.

CATCHWORDS : MORTGAGES AND CHARGES: Clogs on the equity of redemption - Whether secured loan with option to purchase a clog - True nature of transaction - Unconscionability. LEGISLATION CITED : Trade Practices Act 1974 (Cth) Kreglinger v New Patagonia Meat and Cold Storage Co Ltd [1914] AC 25 Jones v Morgan [2001] EWCA Civ 995 CASES CITED : Reeve v Lisle [1902] AC 461 Bridgewater v Leahy (1998) 194 CLR 457 Santley v Wilde [1899] 2 Ch 474 Samuel v Jarrah Timber and Wood Paving Corporation Limited [1904] AC 323 Andrew Hugh Jenner Wily In His Capacity as Administrator of Macquarie Medical Holdings Pty Limited & Ors PARTIES : v Endeavour Health Care Services Pty Limited & Ors FILE NUMBER(S) : CA 40605 of 2003 A: B Coles SC, M Lee, R Francois COUNSEL : 1R: A J Bannon SC, B F Katekar 2R: J E Thomson, A V Gruzman A: Freidman Reeves SOLICITORS : 1R: Gilbert & Tobin 2R: Gray & Perkins

LOWER COURT Supreme Court - Equity Division JURISDICTION : LOWER COURT SC 2560/03 FILE NUMBER(S) : LOWER COURT Gzell J JUDICIAL OFFICER :

IN THE SUPREME COURT OF NEW SOUTH WALES COURT OF APPEAL CA 40605 of 2003