Suncorp-Metway Ltd v Bellairs [2009] NSWSC 135

New South Wales Supreme Court

CITATION : Suncorp-Metway Ltd v Bellairs [2009] NSWSC 135

HEARING DATE(S) : 4 February 2009, 5 February 2009

JUDGMENT DATE : 12 March 2009

JURISDICTION : Common Law

JUDGMENT OF : Rothman J

(i) Judgment for the cross-claimants/defendants on the cross-claim;

(ii) The parties are, within 14 days of the date of this judgment, to provide the Court with short minutes of order reflecting the foregoing judgment; DECISION : (iii) The possession proceedings be stayed for six months from the date hereof;

(iv) The parties have liberty to apply to the Court on the question of costs and any other consequential order, including submissions on the minutes.

CATCHWORDS : MORTGAGE – Contracts Review Act 1980 (NSW) – imposition of condition to reduce principal – knowledge of cash flow difficulties – unnecessary for protection of legitimate interests – contract unjust – remedy granted – parties to recalculate amount owing without default interest and charges

Contracts Review Act 1980 LEGISLATION CITED : Evidence Act 1995 Farm Debt Mediation Act 1994

CATEGORY : Principal judgment

Arnison v Smith (1889) 41 Ch D 348 Beneficial Finance Corporation Ltd v Karavas & Ors (1991) 23 NSWLR 256 Berrigan Shire Council v Ballerini [2005] VSCA 159 Byrne & Frew v Australian Airlines Ltd [1995] HCA 24; (1995) 185 CLR 410 Elkofairi v Permanent Trustee Co Ltd [2002] NSWCA 413 Hadley v Baxendale (1854) 9 Exch 341 CASES CITED : Lawloan Mortgages Pty Ltd v Young [2008] NSWSC 1180 Laws v GWS Machinery Pty Ltd & 2 Ors; Laws v GWS Machinery Pty Ltd & Anor [2007] NSWSC 316 Municipal Officers' Association of Australia v Lancaster [1981] FCA 151; (1981) 54 FLR 129 Nguyen v Taylor (1992) 27 NSWLR 48 Perpetual Trustee Co Ltd v Khoshaba [2006] NSWCA 41 TCN Channel 9 Pty Ltd v Hayden Enterprises Pty Ltd (1989) 16 NSWLR 130 West v AGC (Advances) Ltd (1986) 5 NSWLR 610