NSW Caselaw
New South Wales Court of Appeal
CITATION: Spina v Permanent Custodians Limited [2009] NSWCA 206
HEARING DATE(S): 20 May 2009
JUDGMENT DATE: 22 July 2009
JUDGMENT OF: Tobias JA at [1]; Campbell JA at [2]; Young JA at [3]
DECISION: (1) Appeal allowed with costs; (2) Orders below set aside; (3) Complex order made in lieu varying loan agreement and supporting mortgage; (4) Order that defendant pay 85% of plaintiff's costs below.
CATCHWORDS: CONTRACTS - Contracts Review Act 1980- that a loan agreement and supporting mortgage should be set aside- whether transactions were unjust when entered into and whether the court should grant relief- elderly mother and son entered into loan agreement with respondent- securing mortgage over mother's house- lending guidelines- independent legal advice. EQUITY- unconscionability- elder law- whether transaction ought to be set aside.
Civil Procedure Act 2005, s 101 LEGISLATION CITED: Contracts Review Act 1980, ss 7, 9, 19 Powers of Attorney Act 2003
CATEGORY: Principal judgment
Abbott v UDC Finance Ltd [1992] 1 NZLR 405 (CA) Accom Finance Pty Ltd v Mars Pty Ltd (2007) 13 BPR 24,729 Ardern v Bank of New South Wales [1956] VLR 569 Barclays Bank plc v O'Brien [1994] 1 AC 180 Barclays Bank plc v Thomson [1997] 4 All ER 816 Beneficial Finance Corporation Ltd v Karavas (1991) 23 NSWLR 256 Bridgewater v Leahy (1998) 194 CLR 457 Elkofairi v Permanent Trustee Co Ltd (2002) 11 BPR 20,841 Garcia v National Australia Bank Ltd (1998) 194 CLR 395 CASES CITED: Kleinwort Benson Australia Ltd v Armitage (Cole J, 26 April 1989, unreported) Kowalczuk v Accom Finance Pty Ltd (2008) 252 ALR 55 Longmate v Ledger (1860) 2 Giff 157; 66 ER 67 National Australia Bank v Hall (1993) NSW Conv R 55-684 National Australia Finance Ltd v Fahey [1990] 2 NZLR 482 Pasternacki v Correy [2001] ANZ ConvR 240 Perpetual Trustee Company Limited v Khoshaba [2006] NSWCA 41 Ribchenkov v Suncorp-Metway Ltd (2000) 175 ALR 650 Riz v Perpetual Trustee Australia Ltd (2008) NSW Conv R 56-198 Vakele Pty Ltd v Assender (1989) 4 BPR 9591 Vella v Permanent Mortgages Pty Ltd (2008) 13 BPR 25,343
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