W & K Holdings (NSW) Pty Ltd v Laureen Margaret Mayo [2013] NSWSC 1063

W & K Holdings (NSW) Pty Ltd v Laureen Margaret Mayo [2013] NSWSC 1063

Rectification is ordered for the leases so that interest is charged on a reducible basis, GST is charged only once, no bank fees are payable, and ownership of equipment is transferred to plaintiff upon completion of payments; debenture deed and personal guarantees are not set aside, as no unconscionable conduct or unjust circumstances are made out; lease variations are supported by consideration.

Parties
Plaintiff and First Cross Defendant to the First Cross Claim: W & K Holdings (NSW) Pty Ltd; Defendant, Cross Claimant in the First Cross Claim, Cross Defendant to the Second Cross Claim: Laureen Margaret Mayo; Second Cross Defendant to the First Cross Claim and Cross Claimant in the Second Cross Claim: William Arthur Leonard
Jurisdiction
Australia
Judgment Date
09 August 2013
Procedural Posture
Principal Judgment / Post Hearing, Pre Final Orders (see Paragraph [168])
Outcome
Rectification ordered for leases; debenture deed and guarantees not set aside; damages pending accounting/consent; parties to submit short minutes and arrange costs.
Legal Topics
Rectification, Contract Construction, Variation, Unconscionable Conduct, Relief From Obligations, GST Calculation, Bank Fees, Ownership Transfer, Personal Guarantees, Unjust Transactions
Contracts Equity Evidence Trade Practices Rectification Contract Construction Variation Unconscionable Conduct +6 more

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Parties

W & K Holdings (NSW) Pty Ltd

Plaintiff and First Cross Defendant to the First Cross Claim

Laureen Margaret Mayo

Defendant, Cross Claimant in the First Cross Claim, Cross Defendant to the Second Cross Claim

William Arthur Leonard

Second Cross Defendant to the First Cross Claim and Cross Claimant in the Second Cross Claim

Procedural Posture

Principal Judgment / Post Hearing, Pre Final Orders (see Paragraph [168])

Legal Issues

  1. 1 Whether leases should be rectified to reflect common intention regarding interest calculation, GST, bank fees, and ownership transfer
  2. 2 Whether security documentation (debenture deed) should be set aside due to unconscionability
  3. 3 Whether personal guarantees are unjust under the Contracts Review Act 1980

Ratio Decidendi

Rectification is ordered for the leases so that interest is charged on a reducible basis, GST is charged only once, no bank fees are payable, and ownership of equipment is transferred to plaintiff upon completion of payments; debenture deed and personal guarantees are not set aside, as no unconscionable conduct or unjust circumstances are made out; lease variations are supported by consideration.

Court Disposition

Rectification ordered for leases; debenture deed and guarantees not set aside; damages pending accounting/consent; parties to submit short minutes and arrange costs.

Orders

  • Leases rectified to charge interest on a reducible basis
  • GST to be charged only once