ANZ Banking Group v Londish [2014] NSWSC 202

Supreme Court New South Wales

Medium Neutral Citation: ANZ Banking Group v Londish [2014] NSWSC 202 Hearing dates: 3-5 March 2014 Decision date: 12 March 2014 Jurisdiction: Common Law Before: Adamson J Decision: (1) Judgment for possession of the whole of the land comprised in Certificate of Title, Folio Identifier B/102621 and known as 23 Pibrac Avenue, Warrawee in the State of New South Wales. (2) Judgment in the sum of $4,854,012.98 plus any further amounts that have become due since 1 March 2014. (3) Leave to issue a writ of possession to enforce the judgment referred to in paragraph (1) above. (4) Subject to any party making an application for a different costs order in writing to my Associate within seven days, order the first defendant to pay the plaintiff's and the second and third defendants' costs of the proceedings. (5) Direct the parties to send short minutes of order to my Associate stipulating the judgment sum calculated by reference to (2) above. Catchwords: CONTRACTS - Contracts Review Act 1980 (NSW) - refinance of existing mortgage - whether undue pressure exerted by husband on wife - public interest considerations and community standards of business morality - where there was no evidence that the transaction entered into by wife was improper, improvident or unreasonable - where wife is aware of sound financial position of relevant companies - where wife appreciates the benefit to her, understands the transaction and is willing to enter into it Legislation Cited: Contracts Review Act 1980 (NSW), s 4, s 7 and s 9. Cases Cited: Bylander International Consortium (Australia) Pty Ltd v Multilink Investments Pty Ltd [2001] NSWCA 53 Elkofairi v Permanent Trustee Co Ltd [2002] NSWCA 413 Garcia v National Australia Bank Ltd [1998] HCA 48; 194 CLR 395 Louth v Diprose (1992) 175 CLR 621 State Bank of New South Wales v Chia [2000] NSWSC 552 West v AGC (Advances) Limited (1986) 5 NSWLR 610 Yerkey v Jones (1939) 63 CLR 649 Texts Cited: John R Peden, Harsh and Unconscionable Contracts: Report to the Minister for Consumer Affairs and Co-operative Societies and the Attorney-General for New South Wales, (1976) Category: Principal judgment Parties: Australian & New Zealand Banking Group (Plaintiff) Vicki Christine Londish (First Defendant) Perpetual Trustee Company Limited as custodian for Fidante Partners Limited (Second Defendant) Fidante Partners Limited (Third Defendant) Representation: Counsel: J Stoljar SC/RI Bellamy (Plaintiff) G Drew (First Defendant) V Bedrossian (Second and Third Defendants) Solicitors: Gadens (Plaintiff) JSA Legal (First Defendant) Norton Rose (Second and Third Defendants) File Number(s): 2012/60587 Publication restriction: Nil