Bendigo and Adelaide Bank Limited v Zipevski [2018] NSWDC 54

District Court New South Wales

Medium Neutral Citation: Bendigo and Adelaide Bank Limited v Zipevski [2018] NSWDC 54 Hearing dates: 20-21 February 2018 Date of orders: 20 March 2018 Decision date: 20 March 2018 Jurisdiction: Civil Before: Dicker SC DCJ Decision: (1) Judgment for the first plaintiff against the defendant; (2) The claim of the second plaintiff in the Amended Statement of Claim is dismissed; (3) The parties are to bring in Short Minutes of Order within seven days reflecting these reasons including any claim for interest by the first plaintiff; (4) The defendant is to pay the plaintiffs' costs of the proceedings as agreed or assessed; (5) Liberty to the parties to apply within 14 days for a different costs order to that referred to in Order 4 above; (6) Exhibits to be returned after 28 days. Catchwords: Contract – action in debt - loans for the purposes of investments in agricultural schemes – transaction documents completed pursuant to power of attorney – effect of approval of settlement in class action proceedings in the Supreme Court of Victoria of a deed of settlement – whether accountant who introduced defendant to the investments was the agent of either plaintiff – whether Loan Deeds unjust under the Contracts Review Act 1980 (NSW).

Conflict of laws – proper law of the contract – relevance to the Contracts Review Act 1980, section 17.

Assignment – assignment of rights under future deeds – whether there was a legal assignment. Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Contracts Review Act 1980 (NSW) Property Law Act 1969 (WA) Supreme Court Act 1986 (Vic) Cases Cited: Akai Pty Ltd v People's Insurance Co Ltd (1996) 188 CLR 418 Anning v Anning (1907) 4 CLR 1049 Bendigo and Adelaide Bank Ltd v Pekell Delaire Holdings Pty Ltd (2017) 118 ACSR 592; [2017] VSCA 51 Bonython v Commonwealth (1950) 81 CLR 486 Calvo v Ellimark Pty Ltd [2016] NSWCA 136 Clark (as trustee of the Clarke Family Trust) v Great Southern Finance Pty Ltd (receivers and managers appointed) (in liquidation) [2014] VSC 516 Crabtree Vickers Pty Ltd v Australian Direct Mail & Addressing Co Pty Ltd (1975) 133 CLR 72 Maha Pty Ltd v Coplin [2007] NSWCA 318 Provident Capital Ltd v Papa (2013) 84 NSWLR 231; [2013] NSWCA 36 Re Elsmore Resources Ltd [2016] NSWSC 856 Vita Food Products Inc v Unus Shipping Co Ltd [1939] AC 277 Williams Group Australia Pty Ltd v Crocker [2016] NSWCA 265 Category: Principal judgment Parties: Bendigo and Adelaide Bank Limited (First Plaintiff) ABL Nominees Pty Ltd (Second Plaintiff) Michael Zipevski (Defendant) Representation: Counsel: B Koch (Plaintiff) M Zipevski (In Person)