Toyota Finance Australia Limited v Evenflow Solutions Pty Limited [2015] NSWSC 219

Supreme Court New South Wales

Medium Neutral Citation: Toyota Finance Australia Limited v Evenflow Solutions Pty Limited [2015] NSWSC 219 Hearing dates: 6 March 2015 Decision date: 09 March 2015 Jurisdiction: Equity Division Before: McDougall J Decision: Plaintiff entitled to orders for delivery up of a motor vehicle and for ancillary relief. Catchwords: CONTRACT - termination - repudiation - contract requiring repayment of debt by instalments - where that contract governed by a master agreement - where debtor indicated inability to complete repayments - where master agreement allowed creditor to terminate if satisfied that the debtor's financial position was unsatisfactory - whether that entitled creditor to consider financial position at large or only in relation to the debt - default notice - whether defective because it suggested a means by which the default could be remedied - withdrawal or retraction of repudiation - where debtor now asserted ability to complete repayments - probative value of that evidence where director of debtor found to be dishonest - relief granted to creditor - delivery up of motor vehicle subject of earlier agreement Cases Cited: Electricity Generation Corporation v Woodside Energy Ltd (2014) 251 CLR 640 Hometeam Constructions Pty Ltd v McCauley [2005] NSWCA 303 Mannai Investment Co Ltd v Eagle Star Life Assurance Co Ltd [1997] AC 749 Category: Principal judgment Parties: Toyota Finance Australia Limited (Plaintiff) Evenflow Solutions Pty Limited (First Defendant) Colin Bray (Second Defendant) Representation: Counsel: M Condon SC (Plaintiff) D Neggo (Defendants)