Commonwealth Bank of Australia v Ian Robert Clapham; Byron Bay Holdings Pty Ltd v Commonwealth Bank of Australia [2015] NSWSC 1714

Supreme Court New South Wales

Medium Neutral Citation: Commonwealth Bank of Australia v Ian Robert Clapham; Byron Bay Holdings Pty Ltd v Commonwealth Bank of Australia [2015] NSWSC 1714 Hearing dates: 3, 4, 5, 6, 7, 10, 11, 12 August 2015 Date of orders: 18 November 2015 Decision date: 18 November 2015 Jurisdiction: Equity - Commercial List Before: Darke J Decision: Claims against lender of wrongful conduct not established. Catchwords: BANKING AND FINANCE – provision of finance for acquisition of macadamia farms – whether lender made representations about macadamia industry and proposed acquisition that were misleading or deceptive – whether lender assumed role as advisor to borrower and guarantors – whether misleading or deceptive of lender to fail to disclose its concerns about serviceability of loans – whether lender owed a duty of care to borrower and guarantors – Australian Securities and Investments Commission Act 2001 (Cth), s 12DA Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Cases Cited: Alexander v Perpetual Trustees WA Limited (2004) 216 CLR 109; [2004] HCA 7 Commonwealth Bank of Australia v Smith (1991) 42 FCR 390 Demagogue Pty Limited v Ramensky (1992) 39 FCR 31 Kakavas v Crown Melbourne Limited (2013) 250 CLR 392; [2013] HCA 25 Lewis v Condon [2013] NSWCA 204 Miller and Associates Insurance Broking Pty Limited v BMW Australia Finance Limited (2010) 241 CLR 357; [2010] HCA 31 Ramage v Waclaw (1988) 12 NSWLR 84 Traderight (NSW) Pty Limited v Bank of Queensland Limited [2015] NSWCA 94 Category: Principal judgment Parties: 2010/361682: Commonwealth Bank of Australia (Plaintiff/Cross Defendant) Ian Robert Clapham (First Defendant/Cross Claimant) Ellen Patricia Clapham (Second Defendant/Cross Claimant)