Break Fast Investments Pty Ltd v Perikles Giannopoulos (also known as Perry Giannopoulos) & Anor (No 6) [2012] NSWSC 286

Break Fast Investments Pty Ltd v Perikles Giannopoulos (also known as Perry Giannopoulos) & Anor (No 6) [2012] NSWSC 286

The First Defendant was unjustly enriched and retained a benefit in the full amount of $317,000 paid by the Plaintiff, by virtue of reduction in his personal liabilities for principal, interest, fees, and levies. The correct measure of enrichment is the total sum received and applied to discharge his liabilities, not limited to principal reduction, because he received and used the funds directly. Interest at court rates should be awarded from the date of each payment.

Jurisdiction
Australia
Judgment Date
28 March 2012
Procedural Posture
Proceeding for Unjust Enrichment / Post Trial Judgment Regarding Quantum of Unjust Enrichment and Consequential Orders
Outcome
Judgment for Plaintiff against the First Defendant for $317,000 plus interest; Plaintiff to bring short minutes of order; directions for hearing on costs.
Legal Topics
['unjust Enrichment' 'measure of Enrichment' 'restitution of Funds' 'subrogation' 'costs']
['restitution' 'equity'] ['unjust Enrichment' 'measure of Enrichment' 'restitution of Funds' 'subrogation' 'costs']

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Procedural Posture

Proceeding for Unjust Enrichment / Post Trial Judgment Regarding Quantum of Unjust Enrichment and Consequential Orders

Legal Issues

  1. 1 ['What is the measure of retained unjust enrichment by the First Defendant from funds received from Break Fast Investments Pty Ltd?' "Is the First Defendant liable to restore the full amount received, or only the portion retained upon notice of the plaintiff's claim?" 'Should interest and costs be awarded?']

Ratio Decidendi

The First Defendant was unjustly enriched and retained a benefit in the full amount of $317,000 paid by the Plaintiff, by virtue of reduction in his personal liabilities for principal, interest, fees, and levies. The correct measure of enrichment is the total sum received and applied to discharge his liabilities, not limited to principal reduction, because he received and used the funds directly. Interest at court rates should be awarded from the date of each payment.

Court Disposition

Judgment for Plaintiff against the First Defendant for $317,000 plus interest; Plaintiff to bring short minutes of order; directions for hearing on costs.

Orders

  • ['Plaintiff to bring short minutes of order within 14 days.' 'Interest to be awarded at prescribed court rates under Civil Procedure Act s 100 from the date of each receipt.' "Plaintiff to pay Citigroup's costs on an ordinary basis (except costs of argument on 15 February 2012)." 'Costs between Plaintiff and the...