Australia & New Zealand Banking Group Limited v Fink [2015] NSWSC 506

Supreme Court New South Wales

Medium Neutral Citation: Australia & New Zealand Banking Group Limited v Fink [2015] NSWSC 506 Hearing dates: 20, 21, 22 and 24 April 2015 Decision date: 05 May 2015 Jurisdiction: Common Law Before: Adamson J Decision: (1) Judgment for the plaintiff against the defendants in the sum of $3,389,750.48. (2) Judgment for the cross-defendant on the amended cross-claim. (3) Order the defendants to pay the plaintiff's/ cross-defendant's costs of the proceedings Catchwords: CONTRACTS – loans to complete construction of French-style chateau on Wallis Island and to provide working capital for the defendants' business as antique dealers – relief claimed under Contracts Review Act 1980 (NSW) - refinance of existing mortgage and overdraft facility - loans not shown to be improvident – defendants not subject to any relevant disability or disadvantage - no unfairness or injustice demonstrated – relief not available since business loans obtained for business purposes – no breach of Banking Code of Conduct established even if contractual Legislation Cited: Consumer Credit (NSW) Code 1996 Contracts Review Act 1980 (NSW) National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cth) National Credit Code 2009 (Cth) Real Property Act 1900 (NSW) Cases Cited: Australia and New Zealand Banking Group Limited v Fink [2013] NSWSC 1781 Australian Competition and Consumer Commission v CG Berbatis Holdings Pty Ltd [2003] HCA 18; 214 CLR 51 Bahadori v Permanent Mortgages Pty Ltd [2008] NSWCA 150; 72 NSWLR 44 Dodds v National Bank of Australasia Ltd (1935) 53 CLR 643 Linkenholt Pty Ltd v Quirk [2000] VSC 166 Provident Capital Limited v Papa [2013] NSWCA 36 Sam Management Services (Australia) Pty Ltd v Bank of Western Australia Ltd [2009] NSWCA 320 Category: Principal judgment Parties: Australia & New Zealand Banking Group Limited (Plaintiff) Andre Fink (First Defendant) Cecile Fink (Second Defendant) Representation: Counsel: S Docker (Plaintiff) First Defendant in person and by leave, on behalf of Second Defendant