Kullack, E. v A.N.Z. Banking Group Ltd & Anor [1987] FCA 324

Kullack, E. v A.N.Z. Banking Group Ltd & Anor [1987] FCA 324

The points raised by the applicant are technical and lack substantial merit. The construction of s.9 of the Currency Act 1965 and s.15 of the Money Lenders Act 1916-1979 (Q.) does not render the loan transaction void. Accordingly, the exercise of discretion does not favour granting an unconditional interlocutory injunction.

Parties
Applicant: Esther Kullack; First Respondent: Australia and New Zealand Banking Group Limited; Second Respondent: Paul Harwood; Cross Claimant: Australia and New Zealand Banking Group Limited; First Cross Respondent: Esther Kullack; Second Cross Respondent: Valerie Kullack; Third Cross Respondent: Armin Kullack
Jurisdiction
Australia
Judgment Date
02 June 1987
Procedural Posture
Application / Interlocutory
Outcome
Application dismissed
Legal Topics
Interlocutory Injunction, Loan Transactions, Currency Mix in Contracts
Banking Law Contract Law Interlocutory Injunction Loan Transactions Currency Mix in Contracts

Case Brief

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Parties

Esther Kullack

Applicant

Australia and New Zealand Banking Group Limited

First Respondent

Paul Harwood

Second Respondent

Australia and New Zealand Banking Group Limited

Cross Claimant

Esther Kullack

First Cross Respondent

Valerie Kullack

Second Cross Respondent

Armin Kullack

Third Cross Respondent

Procedural Posture

Application / Interlocutory

Legal Issues

  1. 1 Whether a loan transaction in mixed currencies is unlawful under s.9 of the Currency Act 1965.
  2. 2 Whether the Money Lenders Act 1916-1979 (Q.) requires the loan to be made in Australian money.

Ratio Decidendi

The points raised by the applicant are technical and lack substantial merit. The construction of s.9 of the Currency Act 1965 and s.15 of the Money Lenders Act 1916-1979 (Q.) does not render the loan transaction void. Accordingly, the exercise of discretion does not favour granting an unconditional interlocutory injunction.

Court Disposition

Application dismissed

Orders

  • The application for an interlocutory injunction be dismissed.
  • The applicant pay the costs of and incidental to the application, including costs reserved on 18 May 1987.