PANTON v. BAILEY & 4 ORS [2003] NSWSC 407

New South Wales Supreme Court

CITATION : PANTON v. BAILEY & 4 ORS [2003] NSWSC 407 HEARING DATE(S) : 07-08/05/03 JUDGMENT DATE : 30 May 2003 JURISDICTION: Equity JUDGMENT OF : Bryson J at 1 DECISION : Appeal dismissed, Cross-appeal allowed, Statement of Claim struck out [69]

CATCHWORDS : NEGLIGENCE - essentials of action for negligence - where economic or financial loss - negligent misstatement - Statement of Claim alleged negligence where Defendants gave information to Bank which led Bank to advance money to Cox which Cox used to purchase land and Plaintiff entered into partnership with Cox for vineyard and winery on the land - plaintiff also consulted defendnats for tax advice - Master struck out Statement of Claim and allowed leave to amend - on appeal and cross-appeal, struck out without leave to amend - consideration of development of law of economic loss torts - consideration of causation, Fair Trading Act and Fiduciary Duty Claims. - PRACTICE and PROCEDURE - pleadings - striking out Statement of Claim Pt15 r.26 where pleading discloses no reasonable cause of action - claim outside limits of negligent misstatement law. Supreme Court Rules Pt.15 r.26 LEGISLATION CITED : s.68 of the Fair Trading Act 1987 s.82 of the Trade Practices Act 1974 (Cth) Aghajanian v. Stanley Thompson Valuers Pty Ltd [1999] NSWSC 1154 Australian Breeders Co-Operative Society Ltd v. Jones & Ors (1997) 150 ALR 488 Caltex Oil (Aust.) Pty Ltd v. The Dredge Willemstad (1976) 136 CLR 529 Caparo Industries PLC v. Dickman [1990] 2 AC 605 Esanda Finance Corporation Ltd v. Peat Marwick Hungerfords (1997) 188 CLR 241 Hedley Byrne & Co. Ltd v. Heller & Partners Ltd [1964] AC 465 Hill v. Van Erp (1997) 188 CLR 159 Perre v. Arpand Pty Ltd (1999) 198 CLR 180 San Sebastian v. The Minister (1986) 162 CLR 340 Hawkins v. Clayton (1988) 164 CLR 539 CASES CITED : White v. Jones [1995] 2 AC 207 Ta Ho Ma Pty Ltd v. Allen (1999) 47 NSWLR 1 State of Western Australia v. Wardley Australia Ltd & Ors (1991) 30 FCR 245 Wardley Australia Ltd v. State of Western Australia (1992) 175 CLR 514 Janssen Calag Pty Ltd v. Pfizer Pty Ltd (1992) 37 FCR 526 March v. E & MH Stramare (1991) 171 CLR 506 General Steel Industries Inc. v. Commissioner for Railways (N.S.W.) (1964) 112 CLR 125 Bryan v. Maloney (1995) 182 CLR 609 Seas Sapfor Forests Pty Ltd & Ors v. Electricity Trust of South Australia (1996) 187 LSJS 369 McMullin v. ICI Australia Operations Pty Ltd [1997] 72 FCR 1 Johnson Tiles Pty Ltd v. Esso Australia Pty Ltd [2003] VSC 27 PARTIES : Bernard John Panton - Plaintiff Bruce Leonard Bailey, Peter Charles Mattock and Peter John Saccasan t/as Saccasan Bailey Partners FILE NUMBER(S) : SC 5534/01 COUNSEL : Plaintiff in Person R. Dubler - Defendant SOLICITORS : John R. Quinn & Co. - Plaintiff Phillip Fox Lawyers - Defendant