Mastronardo & Anor v Commonwealth Bank of Australia Ltd & Ors [2018] NSWCA 136

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Mastronardo & Anor v Commonwealth Bank of Australia Ltd & Ors [2018] NSWCA 136 Hearing dates: 8 and 9 March 2018 Decision date: 22 June 2018 Before: Bathurst CJ at [1]; Macfarlan JA at [2]; White JA at [3] Decision: Appeal dismissed with costs. Catchwords: BANKING AND FINANCE – Loan facility agreements - Australian Securities and Investments Commission Act 2001 (Cth) s 12CB(1), s 12GF(1) – Whether Bank's conduct was unconscionable – Where Bank refused to release various securities –– Whether loss or damage was suffered by the conduct complained of – Appeal dismissed Legislation Cited: Australian Consumer Law (Schedule 2 to the Competition and Consumer Act 2010 (Cth)) Australian Securities and Investments Commission Act 2001 (Cth), ss 12CB, 12CC, 12GF State Penalties Enforcement Act 1999 (Qld) Cases Cited: Attorney General (NSW) v World Best Holdings Ltd (2005) 63 NSWLR 557; [2005] NSWCA 261 Carmelo Adriano Mastronardo v Commonwealth Bank of Australia trading as BankWest [2017] NSWSC 1052 Commercial Union Assurance Co of Australia Pty Ltd v Ferrcom Ltd (1991) 22 NSWLR 389 Ipstar Australia Pty Ltd v APS Satellite Pty Ltd [2018] NSWCA 15 Paciocco v Australia and New Zealand Banking Group Limited (2016) 258 CLR 525; [2016] HCA 28 Paciocco v Australia and New Zealand Banking Group (2015) 236 FCR 199; [2015] FCAFC 50 Category: Principal judgment Parties: Carmelo Adriano Mastronardo (1st Appellant) Claudia Alejandra Mastronardo (2nd Appellant) Commonwealth Bank of Australia Ltd (1st Respondent) Antonio Mastronardo (2nd Respondent) Via San Antonio Pty Limited (3rd Respondent) A M Property Investments Pty Ltd (4th Respondent) Representation: Counsel: D R Pritchard SC with A J Macauley (Appellants) M Dempsey SC with M L Rose (1st Respondent)