Littlewood v Resource Underwriting Pty Ltd & Anor [2006] NSWCA 62

New South Wales Court of Appeal

CITATION: Littlewood v Resource Underwriting Pty Ltd & Anor [2006] NSWCA 62

HEARING DATE(S): 24 March 2006

JUDGMENT DATE: 24 March 2006

JUDGMENT OF: Handley JA at 17, 19; Giles JA at 1,; Ipp JA at 18

EX TEMPORE JUDGMENT DATE: 03/24/2006

DECISION: Leave to appeal granted. Appeal dismissed with costs. The notice of appeal filed purportedly as of right should stand as the notice of appeal and the necessity to pay any further filing fee should be dispensed with.

CATCHWORDS: Professional indemnity insurance - breach of duty by investment adviser - advice to invest in a third party's development - adviser had himself invested - was to receive fee of $50,000 and interest on his investment upon successful completion of development - whether had "entitlement or other financial interest" in "fund scheme arrangement or entity" in which he advised investment, within exclusion in policy - purpose to exclude cover when advice given in position of conflict - had entitlement or other financial interest in scheme being the development. ND

LEGISLATION CITED: Local Courts (Civil Claims) Act 1970

PARTIES: Byron James Littlewood - Claimant Resource Underwriting Pty Ltd and GCU Insurance Limited - Opponents

FILE NUMBER(S): CA 40683/05

COUNSEL: G R Graham - Claimant D S Weinberger - Opponents

SOLICITORS: Hallam & Littlewood, Cessnock - Claimant McCabe Terrill - Opponents

LOWER COURT JURISDICTION: Supreme Court - Common Law Division

LOWER COURT FILE NUMBER(S): CL 11500/04

LOWER COURT JUDICIAL OFFICER: Harrison AsJ - 16 February 2005

IN THE SUPREME COURT OF NEW SOUTH WALES COURT OF APPEAL CA 40683/05 SC 11500/05