News

The Supreme Court of New South Wales (Slattery J) has delivered judgment in Gemi 193 Pty Ltd v Zhu [2024] NSWSC 1113, in which Andre Zahra SC appeared (leading James Lee of Tenth Floor Chambers and instructed by Amie Crichton and Joshua Carton) for the successful defendant, Mrs Zhu. Justice Slattery rejected financier Gemi's claims against Mrs Zhu in relation to a loan agreement and guarantee procured from her, finding that Gemi's conduct was unconscionable and that Mrs Zhu is entitled to relief setting aside the loan agreement and guarantee by reason of Gemi’s unconscionable conduct and also pursuant to s. 7 of the Contracts Review Act 1980 (NSW). The case demonstrates the sort of conduct by a lender which the courts will not condone and the risk of loan agreements, guarantees and securities being set aside when lenders obtain guarantees in that way.

See the full judgment here.

Thank you to all who came to the AILA’s “Insurers in Court” Mock Trial which was conducted in the Supreme Court Banco Court before the Hon. Justice Cavanagh. The evening was a great success with over 200 insurance and legal professionals in attendance and, with a victory for the (insured) Plaintiff represented by Ninth Floor Selborne Chambers's Andre Zahra SC and Josh Sukkar in an interesting fictional case concerning an insurance claim following the cancellation of a music festival as a result of bushfire dangers. The mock trial case raised a number of interesting legal and factual issues and was based on the real and recent case of Commens t/as Subsonic Music v Certain Lloyd’s Underwriters subscribing to Policy No ALTCNX1900332 (Trial Judgment) [2024] FCA 434 before Jackman J (in which the insured lost!), see: https://lnkd.in/gVm6RUpR

The evening concluded at Verandah Bar, where Insurance Law professionals gathered to discuss their speciality over a glass of champagne.
We are very grateful to Marcus Vella for his efforts in ensuring the success of the event.