Perpetual Trustee Australia Limited v Romeo [2011] NSWSC 1116

Supreme Court New South Wales

Medium Neutral Citation: Perpetual Trustee Australia Limited v Romeo [2011] NSWSC 1116 Hearing dates: 25 March 2011 Decision date: 16 September 2011 Before: McCallum J Decision: Upon payment into Court by the defendants of the sum of $1.6 million within 28 days of the date of these orders, and further upon their undertaking to the court to maintain interest payments on that amount at 7.75 percent per annum, default judgment entered on 14 September 2011 set aside; upon the defendants' undertaking to the Court to disgorge any payments received in the event that there is a final determination in this Court (including any appeal) that the sum so paid was not payable by reason of the success of the Contracts Review Act claim, amounts paid into court in accordance with order 1 to be paid out to the plaintiffs; defendants to pay the plaintiffs' costs of the application, as agreed or assessed, forthwith. Catchwords: PROCEDURE - default judgment - application to set aside - proceedings for possession - whether arguable defence that contract unjust - asset lending Legislation Cited: Competition and Consumer Act 2010 Contracts Review Act 1980 Trade Practices Act 1974 Uniform Civil Procedure Rules 2005 Cases Cited: Balanced Securities v Oberlechner [2007] NSWSC 80 Elkofairi v Permanent Trustee Co Ltd [2002] NSWCA 413 Ex parte Vigilant Finance (NSW) Pty Ltd, Re Cameron Smith (1964) NSWR 1282 Perpetual Trustee Company Ltd v Khoshaba [2006] NSWCA 41 Reinehr Industrial Lease and Finance Pty Ltd v Jordan Category: Interlocutory applications Parties: Permanent Trustee Australia Limited (first plaintiff) Balmain Fund Administration Limited (second plaintiff) Giuseppe Romeo (first defendant) Anna Maria Romeo (second defendant) Representation: Counsel P Walsh (plaintiffs) R Dubler SC (defendants) Solicitors Sunman & Walker Solicitors (plaintiffs) Proctor Phair Lawyers (defendants) File Number(s): 2010/83709 Publication restriction: None