Greetings to all,

Neil Foster has drawn my attention to an important decision of the NSWCA
last July on change of position: Citigroup Pty Limited v National
Australia Bank Limited [2012] NSWCA 381
http://www.caselaw.nsw.gov.au/action/PJUDG?jgmtid=161934

The judgments address a number of issues, including wide and narrow
versions of the defence, and its relationship to estoppel and the agent's
defence of payment to the principal.

With best wishes of the season,
Lionel

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