Permanent Mortgages Pty Limited v Spartacus Enterprises Pty Limited [2013] NSWSC 911

Permanent Mortgages Pty Limited v Spartacus Enterprises Pty Limited [2013] NSWSC 911

Defendants failed to establish grounds for relief under Contracts Review Act or unconscionability under ASIC Act. Despite allegations of false statements and unjust contract, evidence indicates defendants knowingly participated and no unconscionable conduct or injustice was found. Plaintiff entitled to possession, debt repayment, and costs.

Parties
Plaintiff: Permanent Mortgages Pty Limited; First Defendant: Spartacus Enterprises Pty Limited; Second Defendant: Craig Barton Nelson
Jurisdiction
Australia
Judgment Date
11 July 2013
Procedural Posture
Principal Judgment / Final Determination
Outcome
Judgment for plaintiff
Legal Topics
Loan Agreement, Guarantee and Indemnity, Unjust Contract, Unconscionability, Possession of Land, Default and Enforcement
Contracts Property Law Consumer Protection Loan Agreement Guarantee and Indemnity Unjust Contract Unconscionability Possession of Land +1 more

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Parties

Permanent Mortgages Pty Limited

Plaintiff

Spartacus Enterprises Pty Limited

First Defendant

Craig Barton Nelson

Second Defendant

Procedural Posture

Principal Judgment / Final Determination

Legal Issues

  1. 1 Whether the loan agreement and mortgage are enforceable against the defendants in light of allegations of false statements and unjust contract
  2. 2 Whether the guarantee provided by Mr Nelson is enforceable
  3. 3 Whether there are grounds for relief under the Contracts Review Act 1980 or unconscionability under the ASIC Act

Ratio Decidendi

Defendants failed to establish grounds for relief under Contracts Review Act or unconscionability under ASIC Act. Despite allegations of false statements and unjust contract, evidence indicates defendants knowingly participated and no unconscionable conduct or injustice was found. Plaintiff entitled to possession, debt repayment, and costs.

Court Disposition

Judgment for plaintiff

Orders

  • Defendants to pay plaintiff $696,796.41.
  • Plaintiff granted possession of land comprised in certificate of title folio identifier XXX/XXXX.