Steele-Smith & Ors v Liberty Financial Pty Ltd & Anor [2005] NSWSC 398

New South Wales Supreme Court

CITATION : Steele-Smith & Ors v Liberty Financial Pty Ltd & Anor [2005] NSWSC 398

HEARING DATE(S) : 23 & 31 March, and 8 April, 2005

JUDGMENT DATE : 28 April 2005

JURISDICTION : Equity Division

JUDGMENT OF : Palmer J

DECISION : Judgment for Defendants on Statement of Claim; judgment for the Cross Claimants on the First Cross Claim; judgment for the Cross Claimant on the Second Cross Claim.

CATCHWORDS : FRAUD - UNCONSCIONABLE CONDUCT - Allegations that mortgages procured by fraud and unconscionable conduct - no evidence to support allegations - no evidence of any loss.

Bankruptcy Act 1996 (Cth) - s.116 LEGISLATION CITED : Contracts Review Act 1980 (NSW) - s.6(2)

- Beneficial Finance Corporation Ltd v Karavas (1991) 23 NSWLR 256 - Con-Stan Industries of Australia Pty Ltd v Norwich Winterthur Insurance (Aust) Ltd (1986) 160 CLR 226 CASES CITED : - Mahlo v Westpac Banking Corporation Ltd [1999] NSWCA 358 - Octapon Pty Ltd v Esanda Finance Corporation Ltd - NSWSC 3 February 1989, Cole J.

Doreen Steele-Smith - First Plaintiff/First Cross Defendant to 2nd Cross Claim Tony Steele - Second Plaintiff/Second Cross Defendant to 2nd Cross Claim Maxwell Developments Pty Ltd - Third Plaintiff/Third Cross Defendant to 2nd Cross Claim PARTIES : Liberty Financial Pty Ltd - First Defendant/First Cross Claimant to 1st Cross Claim Liberty Funding Pty Ltd - Second Defendant/Second Cross Claimant to 1st Cross Claim Vestecorp Financial Services Pty Ltd - Cross Defendant to 1st Cross Claim/Cross Claimant to 2nd Cross Claim