Australia and New Zealand Banking Group Limited v James (No 3) [2019] NSWSC 832

Supreme Court New South Wales

Medium Neutral Citation: Australia and New Zealand Banking Group Limited v James (No 3) [2019] NSWSC 832 Hearing dates: 20 and 21 June 2019 Decision date: 05 July 2019 Jurisdiction: Equity - Commercial List Before: Ball J Decision: The defendant's notice of motion filed on 19 September 2017 is dismissed with costs Catchwords: JUDGMENTS AND ORDERS – Amending, varying and setting aside – Fraud, misrepresentation or suppressions of material fact – whether to set aside judgment by consent – whether misleading and deceptive conduct by plaintiff – discretionary considerations – whether defendant has arguable defence – delay – whether delay in advancing case of misleading and deceptive conduct disentitles defendant to relief MISLEADING AND DECEPTIVE CONDUCT – Australian Consumer Law – silence – whether reasonable expectation of being informed of information concerning activities of receivers – whether disclosure required by terms of guarantee – whether reasonable expectation of disclosure of other matters – reliance – whether defendant relied on absence of that information – whether knowledge of that information would have led defendant to not accept judgment by consent CORPORATIONS – Receivers and managers – duties – s 420A of Corporations Act 2001 (Cth) – whether arguable defence based on this provision – scope and function of s 420A – rights of guarantors – standard imposed on receivers – exclusion by contract Legislation Cited: Australian Consumer Law Australian Securities and Investment Commission Act 2001 (Cth) Corporations Act 2001 (Cth) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: Buckeridge v Mercantile Credits Ltd (1981) 147 CLR 654; [1981] HCA 62 Campbell v Backoffice Investments Pty Ltd (2009) 238 CLR 304; [2009] HCA 25 Coles v Burke (1987) 10 NSWLR 429 Demagogue Pty Ltd v Ramensky (1992) 39 FCR 31; [1992] FCA 851 Dimitrovski v Australian Executor Trustees Limited [2013] NSWSC 337 Fabcot Pty Ltd v Port Macquarie-Hastings Council [2011] NSWCA 167 GE Capital Australia v Davis (2002) 180 FLR 250; [2002] NSWSC 1146 Harvey v Phillips (1956) 95 CLR 235 In the matter of Wine National Pty Ltd, James Estate Wines Pty Ltd, Liquor National Pty Ltd [2014] NSWSC 507 James v Australia and New Zealand Banking Group Ltd (2018) 97 NSWLR 663; [2018] NSWCA 41 Kendell v Carnegie (2006) 68 NSWLR 193; [2006] NSWCA 302 Miller & Associates Insurance Broking Pty Ltd v BMW Australia Finance Ltd (2010) 241 CLR 357; [2010] HCA 31 OXS Pty Ltd v Sydney Harbour Foreshore Authority [2016] NSWCA 120 The Owners-Strata Plan No 57164 v Yau (2017) 96 NSWLR 587; [2017] NSWCA 341 Xenos v National Australia Bank Ltd & Anor [2007] NSWSC 973 Texts Cited: Code of Banking Practice Category: Procedural and other rulings Parties: Australia and New Zealand Banking Group Limited (ABN 11 005 347 522) (Plaintiff | Respondent) David Anthony James (Defendant | Applicant) Representation: Counsel: IM Jackman SC with R Foreman (Plaintiff | Respondent) D Pritchard SC with J Baird and N Condylis (Defendant | Applicant)