Secure Funding Pty Ltd v Deren; Deren v Secure Funding Pty Ltd (No 2) [2014] NSWSC 348

Supreme Court New South Wales

Medium Neutral Citation: Secure Funding Pty Ltd v Deren; Deren v Secure Funding Pty Ltd (No 2) [2014] NSWSC 348 Hearing dates: 17 December 2013 Decision date: 28 March 2014 Jurisdiction: Common Law Before: Schmidt J Decision: 1. The plaintiff have possession of the whole of the land described in Certificate of Title Folio Identifier Lot XXX in Deposited Plan XXXXXX, the postal address of which is XX XXXXXXXX Road, Morisset Park NSW 2264 (Land). 2. The plaintiff have leave to issue a writ for possession over the Land immediately. 3. Judgment be entered against the first defendant in the amount of $296,061.23 being the amount owing under the Loan as at 13 December 2013. 4. Interest on the judgment amount calculated at the rate or rates applicable under the Loan and Mortgage from 13 December 2013. 5. The first defendant pay the plaintiffs fees and charges in accordance with the Loan and Mortgage. 6. Declare that the plaintiff is entitled to any insurance proceeds in relation to any contract of insurance between the first defendant and the second defendant. 7. The first defendant's cross-claim is dismissed. 8. All exhibits and subpoenaed material may be returned forthwith; any exhibits returned must be retained intact by the party or person that produced the material until the expiry of the time to file an appeal, or until any appeal has been determined. Catchwords: POSSESSION - leave to issue writ for possession - cross-claim - whether plaintiff caused delay in insurance payment - whether plaintiff responsible for property being underinsured - whether loan agreement and mortgage unconscionable - whether contacts unfair - orders made - leave to issue writ for possession granted - cross-claim dismissed Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Cases Cited: Secure Funding Pty Ltd v Deren [2013] NSWSC 1898 Category: Principal judgment Parties: Secure Funding Pty Ltd ACN 081 982 872 (Formerly Liberty Funding Pty Ltd) (Plaintiff/First Cross-Defendant) Reny Raymond Deren (First Defendant/Cross-Claimant) Insurance Australia Limited trading as NRMA Insurance ACN 000 016 722 (Second Defendant/Second/Cross-Defendant) Representation: Counsel: Mr V Bedrossian (Plaintiff) Solicitors: Norton Rose Australia (Plaintiff) Mr Deren, unrepresented (Defendant) File Number(s): 2012/203997 Publication restriction: None