Haiqin Lu v Qindi Shen; Weiren Jin v Qindi Shen [2018] NSWSC 560

Supreme Court New South Wales

Medium Neutral Citation: Haiqin Lu v Qindi Shen; Weiren Jin v Qindi Shen [2018] NSWSC 560 Hearing dates: 09/04/2018, 10/04/2018, 11/04/2018, 13/04/2018 and 17/04/2018 Date of orders: 02 May 2018 Decision date: 02 May 2018 Jurisdiction: Equity - Commercial List Before: McDougall J Decision: Plaintiffs to have judgments for amounts claimed, with simple interest at the contractual default rate up to judgment. Plaintiffs entitled in principle to orders for judicial sale of real estate owned by defendants. Parties to bring in draft orders. Catchwords: EVIDENCE – where significant passage of time between material events and trial – where each witness has strong self-interest and emotional investment in outcome of trial – where witnesses from both sides disposed to substantial in-court inventions – no substantial probative weight attached to disputed testimonial evidence.

CONTRACT – loan agreements between members of family – initial question of whether loan agreements took effect as deeds – no credible evidence to support conclusion that formal requirements of signing were not met – agreements took effect as deeds.

CONTRACT – execution of deeds said to have been procured by misleading or deceptive conduct – where executed deed differed from antecedent oral and written 'agreements' – where both parties received legal advice as to the terms of the deeds – where defendants aware of terms of deeds and demonstrated agreement by signing – no misleading or deceptive conduct established.

CONTRACT – enforcement of deeds said to be unconscionable – where deeds provided for interest rate of 18% p.a. compounded daily – plaintiffs conceded that simple interest rate of 18% p.a. to be applied.