Lowy v Alexander [2000] NSWSC 661

New South Wales Supreme Court

CITATION : Lowy v Alexander [2000] NSWSC 661 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 3888 of 1997 HEARING DATE(S) : 15 and 16 June 2000 JUDGMENT DATE : 12 July 2000

PARTIES : Peter Lowy (Plaintiff) David Alexander (Defendant) JUDGMENT OF : Windeyer J at 1

COUNSEL : Mr G.K. Burton (Plaintiff) Mr M. Dempsey (Defendant) SOLICITORS : K.M. Harkness & Co (Plaintiff) Mallesons Stephen Jaques (Defendant) CATCHWORDS : EQUITY - fiduciary obligations - solicitor and client - solicitor acting for two parties entering into a loan agreement where only one provided security - duty to advise client giving security to obtain independent advice - whether duty not to act - TORTS - negligence - solicitor acting for joint borrowers - one giving security - limit of retainer - informed consent to acting for both parties Beach Petroleum NL v Abbott Tout Russell Kennedy (1999) 48 NSWLR 1 Brickenden v London Loan & Savings Co [1934] 3 NZLR 465 Browne v Dunn [1894] 6R 67 Clark Boyce v Mouat [1994] 1 AC 428 Farrington v Rowe McBride & Partners [1985] 1 NZLR 83 CASES CITED : Fitzpatrick v Waterstreet [2000] ANZConvR 15 Gilbert v Shanahan [1998] NZLR 528 Maguire v Makaronis (1997) 188 CLR 449 Moody v Cox & Hatt [1917] 2 Ch 71 O'Halloran v R.T. Thomas & Family Pty Ltd (1998) 45 NSWLR 262 Target Holdings Ltd v Redferns [1996] 1 AC 421 DECISION : See paragraph 30

1 IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION

WINDEYER J

WEDNESDAY 12 JULY 2000