Swan & Baker Pty Limited v Marando [2013] NSWCA 233

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Swan & Baker Pty Limited v Marando [2013] NSWCA 233 Hearing dates: 25 June 2013 Decision date: 24 July 2013 Before: McColl JA at [1]; Leeming JA at [2]; Sackville AJA [3]. Decision: 1. Appeal dismissed. 2. The appellants pay the respondents' costs. [Note: The Uniform Civil Procedure Rules 2005 provide (Rule 36.11) that unless the Court otherwise orders, a judgment or order is taken to be entered when it is recorded in the Court's computerised court record system. Setting aside and variation of judgments or orders is dealt with by Rules 36.15, 36.16, 36.17 and 36.18. Parties should in particular note the time limit of fourteen days in Rule 36.16.] Catchwords: TORTS - professional negligence - accountant's failure to advise of freeze on redemptions from investment fund and expiry of "cooling off" period - loss of opportunity to redeem investment - whether duty of care extended to developments post-dating investment - whether breach of duty - whether evidence of loss Legislation Cited: Corporations Act 2001 (Cth)

Civil Liability Act 2002, s 5B Cases Cited: AJH Lawyers Pty Ltd v Hamo [2010] VSCA 222; 29 VR 384 Astley v Austrust Ltd [1999] HCA 6; 197 CLR 1 Brodie v Singleton Shire Council [2001] HCA 29; 206 CLR 512 Citicorp Australian Ltd v O'Brien (1996) 40 NSWLR 398 Craig v Troy (1997) 16 WAR 96 Curnuck v Nitschke [2001] NSWCA 176 David v David [2009] NSWCA 8 Dominic v Riz [2009] NSWCA 216 Graham Barclay Oysters Pty Ltd v Ryan [2002] HCA 54; 211 CLR 540 Hawkins v Clayton [1988] HCA 15; 164 CLR 539 Heydon v NRMA Ltd [2000] NSWCA 374; 51 NSWLR 1 Keddie v Stacks/Goudkamp Pty Ltd [2012] NSWCA 254; 293 ALR 764 Kowalczuk v Accom Finance Pty Ltd [2008] NSWCA 343; 77 NSWLR 205 L Shaddock & Associates Pty Ltd v Parramatta City Council [No.1] [1981] HCA 59; 150 CLR 225 Miller v Miller [2011] HCA 9; 242 CLR 446 Mutual Life & Citizens' Assurance Co Ltd v Evatt [1968] HCA 74; 122 CLR 556 Riz v Perpetual Trustee Australia Ltd [2007] NSWSC 1153 San Sebastian Pty Ltd v Minister for Administering the Environmental Planning and Assessment Act 1979 [1986] HCA 68; 162 CLR 340 Sullivan v Moody [2001] HCA 59; 207 CLR 562 Waimond Pty Ltd v Byrne (1989) 18 NSWLR 642 Category: Principal judgment Parties: Swan & Baker Pty Limited (First Appellant) James Legat (Second Appellant) Damiano Marando (First Respondent) Caterina Marando (Second Respondent) Representation: Counsel: Mr PW Gray SC (Appellants) Mr MB Evans (Respondents) Solicitors: All Courts Lawyers (Appellants) Cohen & Krass Lawyers (Respondents) File Number(s): 2012/296505 Decision under appeal Jurisdiction: 9101 Citation: [2012] NSWDC 131 Date of Decision: 2012-08-30 00:00:00 Before: Mahony SC DCJ File Number(s): 10/298199