Break Fast Investments Pty Ltd v Perikles Giannopoulos (also known as Perry Giannopoulos) & Anor (No 5) [2011] NSWSC 1508

Supreme Court New South Wales

Medium Neutral Citation: Break Fast Investments Pty Ltd v Perikles Giannopoulos (also known as Perry Giannopoulos) & Anor (No 5) [2011] NSWSC 1508 Hearing dates: 17 - 19 October 2011, 27 October 2011, 1-3 November 2011 Decision date: 09 December 2011 Jurisdiction: Equity Division Before: Black J Decision: Claim in unjust enrichment established; opportunity for further submissions as to quantum of relief Catchwords: EQUITY - trusts - constructive trust - liability for knowing receipt and knowing assistance REAL PROPERTY - indefeasibility - in personam exceptions to indefeasibility - whether available in respect of claim for monies received by volunteer and applied to reduction of mortgage RESTITUTION - monies had and received - liability of volunteer recipient of funds Legislation Cited: - Corporations Act 2001 (Cth) ss 128, 129 - Civil Procedure Act 2005 (NSW) - Real Property Act 1900 (NSW) s 42 Cases Cited: - Austotel Pty Ltd v Franklins Self-Serve Pty Ltd (1989) 16 NSWLR 582 - Australia and New Zealand Banking Group Ltd v Westpac Banking Corporation [1988] HCA 17; (1988) 164 CLR 662 - Australian Capital Television Pty Ltd v Minister for Transport and Communications (1989) 86 ALR 119 - Bahr v Nicolay [No 2] [1988] HCA 16; (1988) 164 CLR 604 - Banque Belge Pour L'Etranger v Hambrouck [1921] 1 KB 321 - Banque Financiere de la Cite v Parc (Battersea) Ltd [1999] 1 AC 221 - Barclays Finance Holdings Ltd v Sturgess & Ors (1985) 3 ACLC 662 - Barnes v Addy (1874) LR 9 Ch App 244 - Bell Resources Holdings Pty Ltd v Commissioner of The ACT Revenue Collections (1990) 22 FCR 178; 2 ACSR 211 - Black v S Freedman & Co [1910] HCA 58; (1910) 12 CLR 105 - Belmont Finance Corp Ltd v Williams Furniture Ltd (No 2) [1980] 1 All ER 393 - Bofinger v Kingsway Group Ltd [2009] HCA 44; (2009) 239 CLR 269 - Boscawen v Bajwa [1996] 1 WLR 328 - Briginshaw v Briginshaw (1938) 60 CLR 336 - Burston Finance Ltd v Speirway Ltd [1974] 1 WLR 1648 - Challenger Managed Investments Ltd v Direct Money Corporation Pty Ltd [2003] NSWSC 1072; (2003) 59 NSWLR 452; 12 BPR 22,257 - Chase Manhattan Bank NA v Israel-British Bank (London) Ltd [1981] Ch 105 - Ciaglia v Ciaglia [2010] NSWSC 341; (210) 269 ALR 175 - Cochrane v Cochrane (1985) 3 NSWLR 403 - Commonwealth Bank of Australia v Mohamed Saleh [2007] NSWSC 903 - Commonwealth v Verwayen [1990] HCA 39; (1990) 170 CLR 394 - Consul Development Pty Ltd v DPC Estates Pty Ltd (1975) 132 CLR 373 - Cook v Italiano Family Fruit Co Pty Ltd (in liq) [2010] FCA 1355; (2010) 190 FCR 474 - David Securities Pty Ltd v Commonwealth Bank of Australia (1992) 175 CLR 353 - Fabre v Arenales (1992) 27 NSWLR 437 - Farah Constructions Pty Ltd v Say-Dee Pty Ltd [2007] HCA 22; (2007) 230 CLR 89 - Ford by his Tutor Watkinson v Perpetual Trustees Victoria Ltd [2009] NSWCA 186; (2009) 75 NSWLR 42 - Foskett v McKeown [2000] UKHL 29; [2001] 1 AC 102 - Gerard Cassegrain & Co Pty Ltd v Cassegrain [2011] NSWSC 1156 - Gertch v Atsas [1999] NSWSC 898; (1999) 10 BPR 18,431 - Gillies v Downer EDI Ltd [2011] NSWSC 1055 - Giumelli v Giumelli [1999] HCA 10; (1999) 196 CLR 101 - Ghana Commercial Bank v Chandiram [1960] AC 732 - Heperu Pty Ltd v Belle [2009] NSWCA 252; (2009) 76 NSWLR 230 - Heperu Pty Ltd v Belle [2011] NSWSC 1151 - Jones v Dunkel (1959) 101 CLR 298 - Kalls Enterprises Pty Ltd (in liq) v Baloglow [2007] NSWCA 191 - LHK Nominees Pty Ltd v Kenworthy [2002] WASCA 291; (2002) 26 WAR 517 - Linter Group Ltd v Goldberg (1992) 7 ACSR 580; 10 ACLC 739 - Lithgow City Council v Jackson [2011] HCA 36; (2011) 281 ALR 223 - Lipkin Gorman v Karpnale Ltd [1991] 2 AC 548 - Lurgi (Australia) Pty Ltd v Gratz [2000] VSC 278 - Macquarie Bank Ltd v Sixty-Fourth Throne Pty Ltd [1998] 3 VR 133 - National Australia Bank Ltd v Rusu [2001] NSWSC 32 - Perpetual Trustees Australia Limited v Heperu Pty Ltd [2009] NSWCA 84; (2009) 76 NSWLR 195 - Phetteplace v Bucklin (1893) 18 R 1297 - Raulfs v Fishy Bite Pty Ltd [2011] NSWSC 105 - Re Diplock; Diplock v Wintle [1948] Ch 465 - Re Hill (1974) 23 FLR 329 - Robb Evans of Robb Evans & Associates v European Bank Ltd [2004] NSWCA 82; (2004) 61 NSWLR 75 - Robins v Incentive Dynamics Pty Ltd (in liq) (2003) 45 ACSR 244; 175 FLR 286; 21 ACLC 1030; [2003] NSWCA 71 - Royal Brunei Airlines Sdn Bhd v Tan [1995] 2 AC 378 - Port of Brisbane Corporation v ANZ Securities Ltd (No 2) [2002] QCA 158; [2003] 2 Qd R 661 - Saraceni v Mentha [2011] WASC 94 - Selanger United Rubber Estates Ltd v Cradock (No 3) [1968] 2 All ER 1073; [1968] 1 WLR 155 - Smith v Samuels (1976) 12 SASR 573 - Southern Cross Commodities Pty Ltd (in liq) v Ewing (1988) 14 ACLR 39 - State Bank of New South Wales Ltd v Swiss Bank Corporation (1995) 39 NSWLR 350 - Stuart v Kingston [1923] HCA 17; (1923) 32 CLR 309 - Super 1000 v Pacific General Securities [2008] NSWSC 1222; (2008) 221 FLR 427 - The Bell Group Ltd (in liq) v Westpac Banking Corporation (No 9) (2008) 39 WAR 1; 225 FLR 1; 70 ACSR 1; [2008] WASC 239 - Waltons Stores (Interstate) Ltd v Maher [1988] HCA 7; (1988) 164 CLR 387 - Wambo Coal Pty Ltd v Ariff & Anor [2007] NSWSC 589; (2007) 63 ACSR 429 - Westpac Banking Corporation v Ollis [2007] NSWSC 956 - Westpac Banking Corporation v Toksoz & Anor [2010] NSWSC 1509 Texts Cited: - J D Heydon, Cross on Evidence, 8th Australian ed, 2010 - P Butt, Land Law, 6th ed, 2010 - K Mason, J W Carter & G J Tolhurst, Mason & Carter's Restitution Law in Australia, 2 ed, 2008 - R P Meagher, J D Heydon & M J Leming, Meagher, Gummow & Lehane's Equity: Doctrines and Remedies, 4th ed, 2002 Category: Principal judgment Parties: Break Fast Investments Pty Ltd (Plaintiff) Perikles Giannopoulos (also known as Perry Giannopoulos) (First Defendant) Sandra Faraone (Second Defendant) Representation: Counsel: R.E. Dubler SC/C. Salpigtidis (Plaintiff) M.K. Condon (First and Second Defendants) Solicitors: Proctor Phair Lawyers (Plaintiff) Sage Solicitors (First and Second Defendants) File Number(s): 10/147040