Lopwell Pty Ltd v Clarke & Ors [2009] NSWCA 165

Appeal Outcome: Special leave dismissed with costs by the High Court, 12 February 2010 s233/2009

New South Wales Court of Appeal

CITATION: Lopwell Pty Ltd v Clarke & Ors [2009] NSWCA 165

HEARING DATE(S): 22 June 2009

JUDGMENT DATE: 14 August 2009

JUDGMENT OF: Ipp JA at 1; Campbell JA at 2; Macfarlan JA at 3

DECISION: The appeal is dismissed with costs.

CATCHWORDS: EQUITY - unconscionable dealing - guarantors under a special disability by reason of dependence on advice of longstanding accountant - interest of accountant in transaction unknown to guarantors - disability of guarantors sufficiently evident to financier - exorbitant interest rate

LEGISLATION CITED: Contracts Review Act 1980

CATEGORY: Principal judgment

Australian Competition and Consumer Commission v CG Berbatis Holdings Pty Ltd [2003] HCA 18; (2003) 214 CLR 51 Attorney General of New South Wales v World Best Holdings Ltd [2005] NSWCA 261; (2005) 63 NSWLR 557 Barnes v Addy (1874) LR 9 Ch App 244 Blomley v Ryan [1956] HCA 81; (1956) 99 CLR 362 Bridgewater v Leahy [1998] HCA 66; (1998) 194 CLR 457 Commercial Bank of Australia Ltd v Amadio [1983] HCA 14; (1983) 151 CLR 447 CASES CITED: Farah Constructions Pty Ltd v Say-Dee Pty Ltd [2007] HCA 22; (2007) 230 CLR 89 Friend v Booker [2009] HCA 21; (2009) 83 ALJR 724 Garcia v National Australia Bank Ltd [1998] HCA 48; (1998) 194 CLR 395 Louth v Diprose [1992] HCA 61; (1992) 175 CLR 621 Lumbers v W Cook Builders Pty Ltd (in liquidation) [2008] HCA 27; (2008) 232 CLR 635 Muschinski v Dodds [1985] HCA 78; (1985) 160 CLR 583 Tanwar Enterprises Pty Ltd v Cauchi [2003] HCA 57; (2003) 217 CLR 315 Visnic v Sywak [2009] NSWCA 173