Oxygen Funding Solutions Pty Ltd v Dick-Telfar [2020] NSWSC 582

Supreme Court New South Wales

Medium Neutral Citation: Oxygen Funding Solutions Pty Ltd v Dick-Telfar [2020] NSWSC 582 Hearing dates: 12 – 13 May 2020 Decision date: 18 May 2020 Jurisdiction: Common Law Before: Adamson J Decision: (1) Judgment for the plaintiffs in the sum of $2,351,780.

(2) Judgment for the cross-defendants/plaintiffs on the cross-claim.

(3) Order the defendants to pay the plaintiffs'/cross-defendants' costs of the proceedings on an indemnity basis. Catchwords: CONTRACTS — Remedies — money claim made under loan agreement — whether attempts to discharge debt by refinancing were frustrated by conduct of the lenders

CONTRACTS — Unconscionable conduct — Australian Securities and Investments Commission Act 2001 (Cth) s 12CA — whether interest rates in the loan agreement unconscionable Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth), ss 12CA, 12DA Cases Cited: Catalyst Provisional Lending Pty Ltd v Dick-Telfar [2020] NSWSC 79 Jones v Dunkel (1959) 101 CLR 298; [1959] HCA 8 Kellas-Sharpe v PSAL Ltd [2013] 2 Qd R 233; [2012] QCA 371 Kyabram Property Investments Pty Ltd v Murray [2005] NSWCA 87 Saeed v Capital Securities Australia Pty Ltd [2020] NSWSC 223 Watson v Foxman (1995) 49 NSWLR 315 Category: Principal judgment Parties: Oxygen Funding Solutions Pty Ltd ACN 107 769 415 (First Plaintiff / First Cross-defendant) Catalyst Provisional Lending Pty Ltd ACN 139 887 264 (Second Plaintiff / Second Cross-defendant) John Ramsay (Third Plaintiff / Third Cross-defendant) Robert William James Dick-Telfar (First Defendant / First Cross-claimant) Kristin Lorna Cashman Venae-Telfar (Second Defendant / Second Cross-claimant) Representation: Counsel: D Edney (Plaintiffs / Cross-defendants) B Levet (Defendants / Cross-claimants)