Dennis v Chambers Investment Planners Pty Ltd (Administrators Appointed) (No 3) [2014] FCA 648

FEDERAL COURT OF AUSTRALIA

Dennis v Chambers Investment Planners Pty Ltd (Administrators Appointed) (No 3) [2014] FCA 648 Citation: Dennis v Chambers Investment Planners Pty Ltd (Administrators Appointed) (No 3) [2014] FCA 648

Parties: JOHN STRICKLAND DENNIS v CHAMBERS INVESTMENT PLANNERS PTY LTD (ACN 009 294 606) (ADMINISTRATORS APPOINTED) and GEORGE KAMEL TAKLA

File number: WAD 292 of 2010

Judge: BARKER J

Date of judgment: 20 June 2014

Catchwords: CORPORATIONS – claim for breach of duties under financial services legislation as it applied at material times – whether respondents had reasonable basis for financial advice given – whether respondents made representations concerning appropriateness of advice or accuracy of finance applications that were misleading or deceptive or likely to mislead or deceive CONTRACTS – whether respondents breached contractual duty to exercise reasonable care and skill in provision of financial advice – whether respondents owed duty to provide advice "as to the most suitable financial investments" NEGLIGENCE – whether respondents breached duty to exercise reasonable care and skill in provision of financial advice EQUITY – whether respondents obtained unauthorised benefit from financial advice relationship – whether respondents breached any contractual, tortious or equitable duty in connection with advice given or involvement in applicant's purchase of property EVIDENCE – expert opinion evidence – whether financial planner qualified to give expert evidence concerning duty of care issues and loss – relevance of expert evidence to matters in issue DAMAGES – whether applicant is entitled to damages – extent to which any claimed loss and damages are attributable to respondents' conduct – loss of opportunity claim – whether some claimed losses are outside statutory limitation period or otherwise affected by Civil Liability Act 2002 (WA)