A&D Beaumont Pty Ltd atf A&D Beaumont Family Trust v Commonwealth Bank of Australia

The plaintiff, A&D Beaumont Pty Ltd acting on behalf of the A&D Beaumont Family Trust, filed a case against the Commonwealth Bank of Australia. The dispute arose after the plaintiff mistakenly provided an incorrect BSB number for their bank account in a managed investment scheme application form. The plaintiff sought to redeem the funds but discovered that the redeemed monies had been paid to an incorrect account belonging to a third party. The plaintiff and the fund manager attempted to identify the third-party account holder, but were unsuccessful. The plaintiff sought preliminary discovery of documents to ascertain the identity of the third party.

The court was required to determine whether the plaintiff was entitled to an order for preliminary discovery to obtain information about the identity of the third party, and whether the court should grant an injunction to prevent the defendant from permitting funds to be withdrawn from the account unless a certain amount remained.

The court held that the plaintiff was entitled to the preliminary discovery order to obtain information about the identity of the third party. The court also held that the plaintiff had made out a prima facie case for injunctive relief. The court considered that the plaintiff had suffered prejudice and that there was a real risk of loss if the defendant was permitted to withdraw the funds. The court granted an injunction to prevent the defendant from permitting funds to be withdrawn from the account unless an amount equal to or greater than approximately $560,000 remained in the account. The court noted that the amount was not intended to be a final determination of the quantum of damages but was a provisional estimate based on the evidence available at the time.

The court ordered the defendant to provide the plaintiff with information about the identity of the third party, and restrained the defendant from permitting funds to be withdrawn from the account unless an amount equal to or greater than approximately $560,000 remained in the account.