Oak Capital Mortgage Fund Limited v Dlakic [2019] NSWSC 1538

Supreme Court New South Wales

Medium Neutral Citation: Oak Capital Mortgage Fund Limited v Dlakic [2019] NSWSC 1538 Hearing dates: 2-4 September 2019 Decision date: 07 November 2019 Jurisdiction: Common Law Before: Fullerton J Decision: 1. Judgment for the plaintiff. 2. An order for possession of the property known as XX, Randwick in the State of New South Wales. 3. Leave to enter judgment forthwith. 4. Leave to apply for a writ of possession forthwith. 5. The Court notes the plaintiff's undertaking signed by Kathryn Lauren Brann, solicitor, a full copy of which in annexed to the copy of the judgment retained in the Court file. 6. The defendants to pay the plaintiff's costs. Catchwords: MORTGAGES AND SECURITIES — mortgages — duties, rights and remedies of mortgagee – default on mortgage – whether mortgagee entitled to possession of land – leave granted to issue writ of execution

CONTRACTS —cross-claim — general contractual principles — harsh, unconscionable or oppressive contracts and statutory remedies – whether higher interest rate under loan agreement amounted to a contractual penalty – whether contract unjust for purposes of s 9(1) of the Contracts Review Act– no relief granted Legislation Cited: Contracts Review Act 1980 (NSW) Real Property Act 1900 (NSW) Cases Cited: ACES Sogutlu Holdings Pty Ltd (in liq) v Commonwealth Bank of Australia (2014) 89 NSWLR 209; [2014] NSWCA 402 Andrews v Australia and New Zealand Banking Group Ltd (2012) 247 CLR 205; [2012] HCA 30 Arab Bank Australia Ltd v Sayde Developments Pty Ltd (2016) 23 NSWLR 231; [2016] NSWCA 328 Bank of Western Australia Ltd v Tannous [2010] NSWSC 1319 Elkofairi v Permanent Trustee Co Ltd [2002] NSWCA 413 Jones v Dunkel (1959) 101 CLR 298; [1959] HCA 8 King Investment Solutions Pty Limited v Hussain (2005) 64 NSWLR 441; [2005] NSWSC 1076 Kowalczuk v Accom Finance (2008) 77 NSWLR 205; [2008] NSWCA 343 Paciocco v Australia & New Zealand Banking Group Ltd (2016) 258 CLR 525; [2016] HCA 28 Perpetual Trustee Co Ltd v Khoshaba [2006] NSWCA 41 Provident Capital Ltd v Papa (2013) 84 NSWLR 231; [2013] NSWCA 36 Qantas Airways v Cameron (1996) FCR 246; [1996] FCA 349 Quantum Asset Management Pty Ltd v Love Properties (WA) Pty Ltd [2017] WASC 167 West v AGC (Advances) Ltd (1986) NSWLR 610 Category: Principal judgment Parties: Oak Capital Mortgage Fund Limited (Plaintiff) Kasim Dlakic (First Defendant) Hamida Dlakic (Second Defendant) Representation: Counsel: AW Smith / E Keynes (Plaintiff) J Cohen (Defendants)