In the February special leave run down, I posted about a case which was given leave regarding fraud on bank cheques. The High Court was set to hand down their decision in this matter today, but the parties settled the matter yesterday for a reported $3 million. There were some whispers early on that there might be a settlement, but this is pretty last minute.
The case concerned a fraud which had been perpetrated against a number of individuals including high profile doctor, Dr Barry Landa. Perpetual trustee was a financial institution which was not cognisant of the fraud, but was pursued by Dr Landa for negligence, and conversion or restitution of the cheques. Dr Landa and the other appellants were successful at first instance but this was set aside by the Full Court in the decision of Perpetual Trustees Australia Ltd v Heperu Pty Ltd  NSWCA 84.
Just think of all that restitution jurisprudence being put in the shredder today. Now we'll never know.
2 hours ago