Bodapati & Anor v Westpac Banking Corporation & Anor

[2015] QCA 7

Queensland Court of Appeal

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Interrogate

Catchwords

1. Equity
2. › Unconscionable conduct
3. › Unconscionable dealings
4. › Special disability or disadvantage
5. › Whether borrowers with tertiary qualifications and business experience were under special disability
6. › Whether lack of retail experience constituted special disability
7. › Commercial Bank of Australia Ltd v Amadio (1983) 151 CLR 447
1. Appeal
2. › Extension of time
3. › Prospects of success
4. › Whether applicants demonstrated sufficient prospect of success to justify extension of time
5. › Interlocutory injunction appeal where subject property sold
1. Appeal
2. › New grounds and further evidence on appeal
3. › Whether party bound by conduct of case at first instance
4. › Whether new evidence relevant to grounds relied upon below
5. › Whether prejudice to respondent from raising new matters

Quick Take

Borrowers with tertiary qualifications, approximately 12 months' experience in the relevant industry, knowledge that the business was operating at a loss, and prior experience with bank borrowing and mortgages are unlikely to establish a special disadvantage under the Amadio doctrine when entering into business finance arrangements. The decision in Elkofairi v Permanent Trustee Co Ltd does not establish a general principle that asset-based lending automatically places a borrower in a position of special disadvantage; the conclusion in that case was based on its particular circumstances, including the complete absence of financial information about the borrower.