Satchithanantham v National Australia Bank Ltd [2009] NSWCA 268

Appeal Outcome: Special leave dismissed with costs by the High Court, 23 April 2010 s265/2009

New South Wales Court of Appeal

CITATION: Satchithanantham v National Australia Bank Ltd [2009] NSWCA 268

HEARING DATE(S): 1 July 2009

JUDGMENT DATE: 2 September 2009

JUDGMENT OF: Giles JA at [1]; Hodgson JA at [2]; Young JA at [3]

DECISION: (1) Appeal dismissed with costs; (2) Order below varied so that the issue of the writ of possession is postponed so that the respondent can apply to issue the same on or after 1 November 2009 provided that the appellant pays to the Bank $4,000 interest in both September and October 2009, no later than the 15th day of each such month, in default of any one payment the writ of possession may issue within seven days thereafter.

CATCHWORDS: CONTRACTS - Contracts Review Act 1980- whether to set aside or vary loan agreement- appellant entered into loan agreement with respondent with securing mortgage- loan monies used to discharge another mortgage and to finance appellant's husband's business. EQUITY - undue influence- general principles- Yerkey v Jones- limited availability of undue influence where party seeking to set aside the transaction obtained some benefit from it.

Contracts Review Act 1980 LEGISLATION CITED: Fair Trading Act 1987 Real Property Act 1900, s 57(2)(b) Trade Practices Act 1974 (Cth)

CATEGORY: Principal judgment

Elkofairi v Permanent Trustee Co Ltd [2002] NSWCA 413; 11 BPR 20,841 Garcia v National Australia Bank Ltd (1993) NSW Conv R 55-662 CASES CITED: Perpetual Trustee Co Ltd v Khoshaba [2006] NSWCA 41 Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd [2004] HCA 52; 219 CLR 165 Warburton v Whiteley (1989) NSW ConvR 55-453 Yerkey v Jones [1939] HCA 3; (1939) 63 CLR 649