Berry v Questor Financial Services Limited & Ors [2009] NSWSC 1402

New South Wales Supreme Court

CITATION : Berry v Questor Financial Services Limited & Ors [2009] NSWSC 1402

HEARING DATE(S) : 6, 7 and 17 October 2009

JUDGMENT DATE : 18 December 2009

JUDGMENT OF : Bergin CJ in Eq

DECISION : Amended Statement of Claim dismissed. Plaintiff to pay defendants' costs of proceedings

CATCHWORDS : [FINANCIAL SERVICES] - Statutory regime governing the provision of financial services - Requirements to hold Australian Financial Services licences - Provision of financial services through authorised representatives - [TRUSTS] - Whether investors intended the creation of a trust irrespective of whether the plaintiff remained an authorised representative of the defendants - [CONTRACT] - Whether contract between the plaintiff and the defendants included a term that the plaintiff was entitled to receive fees irrespective of whether she was an authorised representative of the defendants - [ESTOPPEL] - Whether defendants estopped from denying the plaintiff's entitlement to receipt of fees irrespective of whether she remained an authorised representative of the defendants - [MISLEADING OR DECEPTIVE CONDUCT] - Whether disclosure documents "defective" - Whether omission misleading or deceptive

LEGISLATION CITED : Corporations Act 2001 (Cth)

Bahr v Nicolay (No 2) (1988) 164 CLR 604 Con-Stan Industries of Australia Pty Ltd v Norwich Winterthur Insurance (Australia) Ltd (1986) 160 CLR 226 CASES CITED : Trident General Insurance Co Ltd v McNiece Bros Pty Ltd (1988) 165 CLR 107 Walker v Corboy (1990) 19 NSWLR 382 Wilson v Darling Island Stevedoring and Lighterage Co Ltd (1956) 95 CLR 43

Julie-Anne Berry (Plaintiff) PARTIES : Questor Financial Services Limited (First Defendant) Executive Wealth Management Financial Services Pty Limited (Second Defendant) Bridges Financial Services Pty Limited (Third Defendant)