Moloney, Gwen (On her own Behalf & as Joint Executor of the Estate of the Late Kevin Moloney) & Anor v ANZ Life Assurance Co Ltd (ACN 008 425 652) [1997] FCA 1271

FEDERAL COURT OF AUSTRALIA

TRADE PRACTICES - false, misleading or deceptive conduct - whether respondent engaged in false, misleading or deceptive conduct in recommending an investment strategy to the applicants which involved the purchase of a joint life annuity - NEGLIGENCE - whether the respondent was negligent in its duty of care to the applicants by failing to exercise the skills and diligence of a reasonably prudent financial adviser in recommending that an appropriate investment strategy for the applicants was to purchase a joint life annuity - whether respondent in recommending the investment strategy to the applicants had regard to their health status and social security entitlements Trade Practices Act 1974 (Cth) ss 52, 82 MOLONEY & ANOR v ANZ LIFE ASSURANCE CO. LTD VG 857 of 1995 Before : PARKINSON JR Place : MELBOURNE Date : 21 NOVEMBER 1997

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VG 857 of 1995

BETWEEN: GWEN MOLONEY (on her own behalf and as joint executors of the Estate of the Late Kevin Moloney)

First Applicant

PETER FRANKLIN (as joint executor of the Estate of the Late Kevin Moloney (deceased))

Second Applicant

AND: ANZ LIFE ASSURANCE COMPANY LIMITED (ACN 008 425 652)

Respondent

JUDICIAL REGISTRAR: PARKINSON

DATE OF ORDER: 21 NOVEMBER 1997

WHERE MADE: MELBOURNE

MINUTES OF ORDERS

THE COURT ORDERS THAT: 1. Judgment be entered in favour of the applicants against the respondent for damages assessed at $ 33,814.01. 2. The costs of the applicants be borne by the respondent less costs thrown away by the respondent on 7 October 1997. 3. Interest is payable on the judgment pursuant to s51A of the Federal Court of Australia Act 1977 between date of the application and the date of judgment. 4. The proceeding be listed before Parkinson JR on Wednesday 26 November 1997 at 9.30 am for the making of orders including orders as to interest and costs. 5. By 5.00 pm on Tuesday 25 November 1997 the parties provide to the Associate to Parkinson JR an agreed minute of the orders to be made, or if agreement has not by then been reached, the forms of the minutes of orders for which they will respectively contend.