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Key decisions

  • Shao v Crown Global Capital Pty Ltd (in prov liq) [2025] HCA 43
  • Farmer v Minister for Home Affairs [2025] HCA 38

CONTRACT

Breach – loan note

In Shao v Crown Global Capital Pty Ltd (in prov liq) [2025] HCA 43 (5 November 2025), the High Court unanimously allowed an appeal from the Supreme Court of NSW with costs.

This matter related to a note facility agreement and note certificate between two lenders, a husband (Mr Peng) and wife (Ms Shao), a borrower (Crown Global Capital Pty Ltd) and a guarantor (Crown Group) for $1 million. A term of the contract stated that the loan must be repaid into an account nominated by the two lenders. The borrower repaid the loan into an account nominated by one lender, Mr Peng.

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