St George Bank Limited v Trimarchi [2003] NSWSC 151

New South Wales Supreme Court

CITATION : St George Bank Limited v Trimarchi [2003] NSWSC 151 HEARING DATE(S) : 5 August - 15 August 2002 JUDGMENT DATE : 14 March 2003 JURISDICTION: Common Law Division JUDGMENT OF : Dunford J DECISION : Agreement for loan and mortgage set aside as against the defendants. Judgment for the defendants.

CATCHWORDS : CONTRACTS - loan - mortgage - principals or guarantors - unjust contracts - Contracts Review Act 1980 - advance used to pay out existing mortgage debt - prior mortgage unjust - relief - AGENCY - power of attorney - execution by attorney of third party mortgage as security for his own debt - whether valid LEGISLATION CITED : Contracts Review Act 1980, ss 6(2), 7(1), 9(1)&(2) Real Property Act 1900, s 57(2)(b) Antonovic v Volker (1986) 7 NSWLR 151 Australian Bank Limited v Stokes (1985) 3 NSWLR 174 Baltic Shipping Co v Dillon: "Mikhail Lermontov" (1991) 22 NSWLR 1 Beneficial Finance Corporation Limited v Karavas (1991) 23 NSWLR 256 Collier v Morlend Finance Corporation (Vic) Pty Limited (1989) 6 BPR 13,337 Collins v Parker (1984) NSW Conv R #55-212 Commercial Bank of Australia Limited v Amadio (1983) 151 CLR 447 Coombs v Bahama Palm Trading Pty Ltd (1991) ASC #56-097 Esanda Finance Corporation Limited v Tong (1997) 41 NSWLR 482 at 490-491 CASES CITED : Garcia v National Australia Bank Limited (1998) 194 CLR 395 National Australia Bank Limited v Hall (1993) ASC #56-234 Nguyen v Taylor (1992) 27 NSWLR 48 Petelin v Cullen (1975) 132 CLR 355 Reckitt v Barnett, Pembroke and Slater Limited [1929] AC 176 Sydney Turf Club v Crowley [1971] 1 NSWLR 724 Tobin v Broadbent (1947) 75 CLR 378 Toscano v Holland Securities Pty Limited (1985) 1 NSWLR 145 West v AGC (Advances) Limited (1986) 5 NSLWR 610 Yerkey v Jones (1939) 63 CLR 649 St George Bank Limited (Plaintiff) PARTIES : Domenico Trimarchi (First Defendant) Lucia Trimarchi (Second Defendant) FILE NUMBER(S) : SC 12097/99 COUNSEL : MA Ashhurst (Plaintiff) MBJ Lee (Defendants) SOLICITORS : Kemp Strang (Plaintiff) Marsdens Law Group (Defendants)