Background
Xue (the plaintiffs) were the purchasers of an
off-the-plan apartment from members of the Meriton Group of
companies (the defendants) who alleged they were
misled by the defendants, prior to settlement, regarding the
availability of vendor finance at the market interest rate,
resulting in non-completion of the contract for sale.
The plaintiffs subsequently commenced proceedings in the Supreme
Court of New South Wales seeking the return of a $87,300 deposit
and unspecified damages (the latter of which were not sought at the
Hearing) occasioned by alleged misleading or deceptive conduct on
the part of the defendants in contravention of section 18 of the
Australian Consumer Law or section 12DA of the Australian
Securities and Investments Commission Act 2001 (Cth).
