Ag-Exports (Australia) Pty Ltd & Anor v Export Finance and Insurance Group [2006] NSWSC 467

New South Wales Supreme Court

CITATION : Ag-Exports (Australia) Pty Ltd & Anor v Export Finance and Insurance Group [2006] NSWSC 467 This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 22 March 2005, 19 May 2005

JUDGMENT DATE : 23 May 2006

JUDGMENT OF : Simpson J

DECISION : (i) the plaintiffs' notice of motion is dismissed; (ii) pursuant to SCR Part 13, r. 5(1)(a) and (c), the proceedings are dismissed.

CATCHWORDS : plaintiffs' application for leave to file sixth amended statement of claim - previous pleadings struck out or dismissed - lengthy procedural history - claim in contract - claim in contract statute barred - plaintiffs' liberty to plead fraudulent concealment of action - claim in deceit - fraudulent misrepresentation - essentials of claim in deceit/ fraudulent misrepresentation - identification of fraudsters - particulars of knowledge of falsity - whether proof of particulars capable of supporting claim - claim under Trade Practices Act 1975 - when cause of action arises - statute barred - claim under Australian Securities and Investments Commission Act 2001 - ASIC Act not in force at time of events giving rise to claim - statute barred - discretionary factors - procedural history - leave to file further amended statement of claim refused - proceedings dismissed

Australian Securities and Investments Commission Act 2001 (Cth) s12DA(1), s12GF(1) Legal Profession Act 1987 LEGISLATION CITED : Limitation Act 1969 s14, s55 (1)(b) Real Property Act 1900 Supreme Court Rules Pt 13 r5, Pt 33, r6 Trade Practices Act 1975 (Cth) s52(1), s82