NSW Caselaw
Reported Decision: 63 ACSR 636
New South Wales Court of Appeal
CITATION: Leda Pty. Limited v. Weerden & Anor. [2007] NSWCA 174
HEARING DATE(S): 19 and 20 June 2007
JUDGMENT DATE: 18 July 2007
JUDGMENT OF: Hodgson JA at 1; McColl JA at 77; Handley AJA at 78
DECISION: 1. Appeal dismissed with costs. 2. Cross-appeal dismissed, with no order as to costs.
CATCHWORDS: TORTS - Negligent advice - Purchase of shares in unitholder and trustee of trust with carry forward tax losses and capital profit on sale of hotel - Purchaser seeks advice from accountant/tax expert - Accountant advises that due diligence required if certain advice is to be given - Subsequent letter gives some advice notwithstanding due diligence not undertaken - How such letter would reasonably have been understood - Whether it gave negligence advice - Whether purchase of shares caused by any such negligent advice - Whether accountant liable under the Fair Trading Act 1987, s.68
Income Tax Assessment Act 1936 (Cth), Pt.IVA LEGISLATION CITED: Taxation Administration Act 1953 (Cth) ss.8K, 8T Corporations Act 2001 (Cth) s.1318
Butcher v. Lachlan Elder Realty Pty. Limited [2004] HCA 60, 218 CLR 592 Commonwealth v. Cornwell [2007] HCA 16, (2007) 81 ALJR 933 Como Investments Pty. Limited v. Yenald Nominees Pty. Limited (1997) ATPR 41-550 CASES CITED: Havyn Pty. Limited v. Webster [2005] NSWCA 182 Monroe Schneider Associates (Inc) v. Number 1 Raberem Pty. Limited (1991) 33 FCR 1 Reiffel v. ACN 075 839 266 Limited [2003] FCA 194, 45 ACSR 67 Segal v. Fleming [2002] NSWCA 262
Leda Pty. Limited - appellant PARTIES: John Weerden - respondent/cross-appellant Leisure Management Pty. Limited - cross-respondent
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