Count Financial Limited v Pillay [2021] NSWSC 99

Supreme Court New South Wales

Medium Neutral Citation: Count Financial Limited v Pillay [2021] NSWSC 99 Hearing dates: 15 February 2021 Date of orders: 17 February 2021 Decision date: 17 February 2021 Jurisdiction: Equity - Commercial List Before: Stevenson J Decision: Leave to join insurer refused Catchwords: INSURANCE - application for leave to proceed against professional indemnity insurer of defendant accountant under the Civil Liability (Third Party Claims Against Insurers) Act 2017 (NSW) - whether plaintiff has reasonably arguable claim against defendant accountant – whether defendant unlikely to be able to meet any judgment – whether reasonably arguable that policy responds to claim – whether exclusions in policy enlivened Legislation Cited: Corporations Act 2001 (Cth) Civil Liability (Third Party Claims Against Insurers) Act 2017 Law Reform (Miscellaneous Provisions) Act 1946 (NSW) (Repealed) Cases Cited: Murphy, McCarthy & Associates Pty Ltd v Zurich Australian Insurance Ltd [2018] NSWSC 627 Opes Prime Stockbroking Ltd (in liq) (Scheme Administrators Appointed) v Stevens [2014] NSWSC 659 Oswald v Bailey (1987) 11 NSWLR 715 Tzaidas v Child (2004) 61 NSWLR 18; [2004] NSWCA 252 Zaki v Better Building Constructions Pty Ltd [2017] NSWSC 1522 Category: Procedural rulings Parties: Count Financial Limited (Plaintiff/Applicant) Inderasan Subramoney Pillay (Defendant) Neon Underwriting Limited on behalf of Lloyd's Syndicate 2468 (First Respondent) Atrium Underwriters Limited for and on behalf of Syndicate 609 (Second Respondent) AEGIS Managing Agency Limited for and on behalf of Syndicate AES1225 (Third Respondent) Representation: Counsel: C M Archibald QC with E Bathurst (Plaintiff) E C Muston SC with R Thrift (First Respondent)