Crown & Gleeson Business Finance Pty Limited v Walster and Anor [2008] NSWSC 865

New South Wales Supreme Court

CITATION : Crown & Gleeson Business Finance Pty Limited v Walster and Anor [2008] NSWSC 865

HEARING DATE(S) : 4 August 2008, 5 August 2008, 6 August 2008, 7 August 2008

JUDGMENT DATE : 25 August 2008

JUDGMENT OF : Johnson J at 1

DECISION : 1. Verdict and judgment on the cross-claim for Mr Walster against Mr Petts in the sum of $575,000.00. 2. Mr Petts is to pay Mr Walster's costs of the cross-claim.

CATCHWORDS : MORTGAGES - cross-claim by mortgagor against finance broker - mortgagor induced to mortgage home to assist employer to obtain high interest rate bridging finance for business purposes - default under mortgage - claim of being induced by misleading or deceptive conduct and/or negligent misrepresentation to mortgage home - representation made that long-term finance had been arranged - no reasonable basis for representation - relief granted

LEGISLATION CITED : Fair Trading Act 1987 Civil Procedure Act 2005

CATEGORY : Principal judgment

Goodrich Aerospace Pty Ltd v Arsic (2006) 66 NSWLR 186 Concrete Constructions (NSW) Pty Limited v Nelson [1990] 169 CLR 594 Plimer v Roberts (1997) 80 FLR 303 Hornsby Building Information Centre Pty Limited v Sydney Building Information Centre Limited (1978) 140 CLR 216 Butcher v Lachlan Elder Realty Pty Ltd [2004] 218 CLR 592 CASES CITED : Parkdale Custom Built Furniture Pty Limited v Puxu Pty Limited (1982) 149 CLR 191 Collins Marrickville Pty Limited v Henjo Investments Pty Limited (1987) 72 ALR 601 Henjo Investments Pty Limited v Collins Marrickville Pty Limited (No. 1) (1988) 39 FCR 546 Alami v Langov [2008] NSWSC 812 Gipps v Gipps [1978] 1 NSWLR 454 Australian Competition and Consumer Commission v Samton Holdings Pty Limited (2002) 117 FCR 301