Prepaid Services v Atradius [2012] NSWSC 608

Supreme Court New South Wales

Medium Neutral Citation: Prepaid Services v Atradius [2012] NSWSC 608 Hearing dates: 27/02/2012, 28/02/2012, 29/02/2012, 01/03/2012, 02/3/2012, 05/03/2012, 06/03/2012, 14/03/2012, 16/03/2012 Decision date: 07 June 2012 Jurisdiction: Equity Division - Commercial List Before: McDougall J Decision: Judgment for defendant with costs. Catchwords: [INSURANCE] - policy - duty of disclosure - scope of policy - whether plaintiffs made misrepresentations to insurer - whether misrepresentations fraudulent - whether insurer relied on misrepresentations in deciding to issue policy - whether debts claimed by the plaintiffs fall within the scope of the policy - whether amount of loss claimed should be reduced for breaches of warranty under which plaintiffs were required to mitigate loss. Legislation Cited: Corporations Act 2001 (Cth) Insurance Contracts Act 1984 (Cth) Personal Property Securities Act 2009 (Cth) Cases Cited: Commercial Union Assurance Co of Australia Limited v Ferrcom Pty Ltd (1991) 22 NSWLR 389 Kuhl v Zurich Financial Services Australia Limited (2011) 243 CLR Purkess v Crittenden (1965) 114 CLR 164 Category: Principal judgment Parties: Prepaid Services Pty Limited (ACN 83 094 684 219) (First Plaintiff) Optus Mobile Pty Limited (ACN 054 365 696) (Second Plaintiff) Virgin Mobile (Australia) Pty Limited (092 726 442) (Third Plaintiff) Atradius Credit Insurance N.V. (ABN 72 009 372 595) (Defendant) Representation: JT Gleeson SC / DA McLure (Plaintiffs) CRC Newlinds SC / TM Mehigan (Defendant) Minter Ellison (Plaintiffs) Allens (Defendant) File Number(s): 2009/298684