Westpac Banking Corporation -v- Tony Barber [2015] NSWSC 1606

Supreme Court New South Wales

Medium Neutral Citation: Westpac Banking Corporation -v- Tony Barber [2015] NSWSC 1606 Hearing dates: 12 & 13 October 2015 Date of orders: 13 October 2015 Decision date: 13 October 2015 Jurisdiction: Equity - Commercial List Before: Hammerschlag J Decision: Judgment for plaintiff. Cross-claim dismissed. Catchwords: BANKING – claim by plaintiff Bank for undisputed debt owed by the defendant in respect of borrowings – defendant contends that he should not be required to repay because his agent, without his knowledge or consent, provided false information to the Bank which induced the Bank to lend him the money – defendant made and then withdrew allegations that the Bank was implicated – cross-claim by defendant for damages (or set off) for alleged sale at an undervalue of property mortgaged by him to the Bank to secure his debt obligations HELD: No defence to the Bank's claim established –defendant was party to provision of false information to the Bank and no basis to find that the Bank was in any way implicated – cross-claim fails because no evidence of market value of property at the date of sale – no evidence of loss – COSTS – indemnity costs – Bank entitled to indemnity costs contractually alternatively because of the unfounded allegations of dishonesty which the defendant made against it which it had to meet Legislation Cited: Corporations Act 2001 (Cth) Category: Principal judgment Parties: Westpac Banking Corporation - Plaintiff Tony Barber - Defendant / Cross-Claimant Representation: Counsel: J. Hynes - Plaintiff T. Barber, Self-Represented - Defendant