NSW Caselaw
New South Wales Supreme Court
CITATION : Ingot Capital Investments Pty Limited & Ors v PricewaterhouseCoopers & Ors [2002] NSWSC 1129 CURRENT JURISDICTION: Equity Division Commercial List FILE NUMBER(S) : SC 50169/01 HEARING DATE(S) : 17 October 2002 and 6 November 2002 JUDGMENT DATE : 6 December 2002
PARTIES : Ingot Capital Investments Pty Limited ( Pltsf) PricewaterhouseCoopers (13D) JUDGMENT OF : McClellan J
COUNSEL : F M Douglas QC/D R Sibtain (Pltfs) T F Bathurst QC/P J Brereton (13D) SOLICITORS : Deacons (Pltfs) Blake Dawson Waldron (13D) CATCHWORDS : COMMERCIAL - application to amend summons - thirteenth defendant retained to audit the financial statements of company - thirteenth defendant participated in a due diligence committee related to a prospectus - whether the auditor's duty of care was breached - whether the auditor engaged in misleading and deceptive conduct - principles relating to the liability of professional advisors discussed - the liabiilty of the auditors under Corporations Law discussed LEGISLATION CITED : Fair Trading Act 1987 s 42 Corporations Law s 995(2); s1005; s1006(2)(g); s 1009(2) General Steel Industries Inc v Commmissioner for Railways (NSW) (1964) 112 CLR 125 Dey v Victorian Railways Commissioners (1949) 78 CLR 62 Wickstead v Browne (1992) 30 NSWLR 1; High Court (1993) 10 Leg Rep SL2 Electra Private Equity Partners & Ors v KPMG Peat Marwick & Ors [1999] EWCA Civ 1247 David John de Marle Coulthard & Ors v Neville Russell (1997) EWCA Civ 2837 CASES CITED : Andrew & Ors v Kounnis Freeman [1999] EWCA Civ 1499 Esanda Finance Corporation Ltd v Peat Marwick Hungerfords (1997) 188 CLR 241 Mutual Life & Citizens' Assurance Co Ltd v Evatt (1968) 122 CLR 556 R Lowe Lippmann Figdor & Franck (a firm) v AGC Advances Ltd [1992] 2 VR 671 Caparo Industries Plc v Dickman [1990] 2 AC 605 San Sebastian Pty Ltd v The Minister Administering Environmental Planning Act 1979 (1986) 162 CLR 340 DECISION : See paras 74 and 75
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