Bendigo and Adelaide Bank Limited v Russo [2019] NSWSC 661

Supreme Court New South Wales

Medium Neutral Citation: Bendigo and Adelaide Bank Limited v Russo [2019] NSWSC 661 Hearing dates: 3, 4, 5 April 2018 Decision date: 05 June 2019 Jurisdiction: Common Law Before: McCallum J Decision: 1. Proceedings dismissed. 2. Plaintiff to pay the defendant's costs. Catchwords: CONTRACTS – managed investment scheme – deeds – whether loan deed valid and enforceable on its face – whether loan deed valid and enforceable by force of deed of settlement in representative proceedings – whether defendant a group member – whether there is otherwise an enforceable loan agreement

LIMITATION OF ACTIONS – debt – whether action under loan agreement is statute-barred – whether amendment should take effect from date of amendment Legislation Cited: Civil Procedure Act 2005 (NSW), s 65 Conveyancing Act 1919 (NSW), s 12 Corporations Act 2001 (Cth), ss 127, 129(3) Evidence Act 1995 (NSW), s 163 Limitation Act 1969 (NSW), s 54 Limitation Act 2005 (WA), s 59 Powers of Attorney Act 2003 (NSW), Sch 2 Supreme Court Act 1986 (Vic), Part 4A Cases Cited: 400 George Street (Qld) Pty Ltd v BG International Ltd [2012] 2 Qd R 302; [2010] QCA 245 Bendigo and Adelaide Bank Limited v Howard [2018] NSWSC 383 Bendigo and Adelaide Bank Ltd v Pekell Delaire Holdings Pty Ltd [2017] VSCA 51; 118 ACSR 592 Brisbane South Regional Health Authority v Taylor (1996) 186 CLR 541; [1996] HCA 25 Clarke (as trustee of the Clarke Family Trust) & Ors v Fischer v Nemeske Pty Ltd [2015] NSWCA 6 Great Southern Finance Pty Ltd (Receivers and Managers Appointed) (in liquidation) & Ors [2014] VSC 516 Electricity Generation Corporation v Woodside Energy Ltd (2014) 251 CLR 640; [2014] HCA 7 Islamic Council of South Australia Inc v Australian Federation of Islamic Councils Inc [2009] NSWSC 211 Kavia Holdings Pty Ltd v Suntrack Holdings Pty Ltd [2011] NSWSC 716 Netglory Pty Ltd v Caratti [2013] WASC 364 Ogilvie v Adams [1981] VR 1041 Scook v Premier Building Solutions Pty Ltd [2003] WASCA 263 Texts Cited: Diccon Loxton, "Not Worth the Paper They're Not Written On? Executing Documents (Including Deeds) Under Electronic Documentation Platforms: Part A" (2017) 91 ALJ 133 Diccon Loxton, "Not Worth the Paper They're Not Written On? Executing Documents (Including Deeds) Under Electronic Documentation Platforms: Part B" (2017) 91 ALJ 205 G E Dal Pont, Powers of Attorney (2011, LexisNexis) G E Dal Pont, Powers of Attorney (2nd ed, 2015, LexisNexis) Nicholas Seddon, Seddon on Deeds (2015, Federation Press) Category: Principal judgment Parties: Bendigo and Adelaide Bank Limited (plaintiff) Sid Russo (defendant) Representation: Counsel: RA Dick SC, AR Zahra (plaintiff) DL Cook SC (defendant)