NSW Aboriginal Land Council v Ace Global Markets Limited and Ors [2005] NSWSC 39

Reported Decision : (2006) 14 ANZ Insurance Cases 61-703

New South Wales Supreme Court

CITATION : NSW Aboriginal Land Council v Ace Global Markets Limited and Ors [2005] NSWSC 39

HEARING DATE(S) : 24/11/04, 25/11/04

JUDGMENT DATE : 11 February 2005

JUDGMENT OF : Wood CJatCL at 1

DECISION : 1.Summons dismissed; 2. Order the Plaintiff to pay the Defendants' costs.

CATCHWORDS : Application to commence proceedings under s 6 Law Reform (Miscellaneous Provisions) Act 1946 - whether negligence or misrepresentation relating to preparation of valuation - policy of insurance - issue of direct actions against insurers from claimants - whether there was no solvent or perfectly good Defendant - whether s 6 applied to a claims made and notified policy where event giving rise to damages claim occurred prior to commencement of policy - whether Defendants had entitlement to disclaim liability under policies - Trade Practices Act s 6(3)(a) - Fair Trading Act - Insurance Contracts Act 1984 (Cth) s 54.

Fair Trading Act 1987 Insurance Contracts Act 1984 (Cth) s 54 LEGISLATION CITED : Law Reform (Miscellaneous Provisions) Act 1946 s 6 Trade Practices Act 1974 s 6(3)(a)

Andjelkovic v AFG Insurance Limited (1980) 47 FLR 348 Bailey v NSW Medical Defence Union Ltd (1995) 69 ALJR 890 Capita Financial Group Ltd v Triden Properties Ltd NSWSC 6 September 1993 Carnie v Richmond and Ors NSWSC 9 September 1997 FAI General Insurance Co Ltd v Australian Hospital Care Pty Limited (2001) 204 CLR 641 FAI General Insurance Co Ltd v McSweeney (Judgment Part I) (1997) 73 FCR 379 FAI (NZ) Insurance Co Ltd v Blundell and Brown Ltd [1994] 1 NZLR 11 Fishwives Pty Limited V FAI General Insurance Co Ltd (2002) 12 ANZ Ins Cas 61-515 Grimson v Aviation and General (Underwriting) Agents Pty Limited (1991) 25 NSWLR 422 HTW Valuers (Central Qld) Pty Limited v Astonland Pty Ltd [2004] HCA 54 CASES CITED : Kenny and Good v MGICA (1992) Limited (1999) CLR 413 Khoury v Government Insurance Office of New South Wales (1984) 58 ALJR 502 Independent Wool Dumpers Pty Ltd v American International Underwriters (NZ) Ltd (1992) 7 ANZ Ins Cas 61-152 Manettas v Underwriters at Lloyds (1993) 7 ANZ Ins Cas 61-80 McMillan v Mannix (1993) 31 NSWLR 538 National Mutual Property Services (Australia) Pty Limited v Citibank Savings Ltd (1996) (No 4) 138 ALR 409 Oswald v Bailey (1987) 11 NSWLR 715 Schipp v Cameron (1995) 8 ANZ Ins Cas 61-256 Schipp v Cameron, Harrison & Ors [1998] NSWSC 997 Tzaidas v Child [2004] NSWCA 252 Wardley Australia Ltd v State of Western Australia (Rothwells Loan case) (1992) 175 CLR 514