Simon Anish Chand v Commonwealth Bank of Australia [2014] NSWSC 708

Supreme Court New South Wales

Medium Neutral Citation: Simon Anish Chand v Commonwealth Bank of Australia [2014] NSWSC 708 Hearing dates: 2-5 December and 10 December 2013 Decision date: 02 June 2014 Jurisdiction: Equity Division Before: Robb J Decision: (1)Order that the plaintiff's claim be dismissed. (2)Order the plaintiff to pay the defendant's costs (3)Order for the return of exhibits and subpoenaed material as set out in par 396 of the reasons for judgment Catchwords: CONTRACT - breach by defendant admitted - causation - breach caused plaintiff's loss in fact - whether defendant legally responsible for plaintiff's loss - scope of defendant's responsibility - test for defendant's responsibility - novus actus interveniens - free, deliberate and informed act of plaintiff - reasonable conduct by plaintiff as between plaintiff and defendant - plaintiff could have avoided entire loss by submitting a further redemption request to the defendant - plaintiff intentionally remained in the market in the hope of receiving a higher return - plaintiff failed to take reasonable steps to avoid loss - failure to mitigate - defendant not responsible for plaintiff's loss Legislation Cited: Civil Liability Act 2002(NSW) ss 5A, 5D, 5R, 5S Law Reform Miscellaneous Provisions Act 1965 (NSW) ss 8, 9 Cases Cited: Alexander v Cambridge Credit Corporation Ltd (1987) 9 NSWLR 310 Allianz Australia Insurance Ltd v Waterbrook at Yowie Bay Pty Ltd [2009] NSWCA 224 Astley v Austrust Ltd (1999) 197 CLR 1; [1999] HCA 6 Blaxter v The Commonwealth [2008] NSWCA 89 Building Insurers' Guarantee Corporation v The owners - Strata Plan No 57504 [2010] NSWCA 23 Castle Constructions Pty Ltd v Fekala Pty Ltd (2006) 65 NSWLR 648; [2006] NSWCA 133 Clark v Macourt (2013) 304 ALR 220; [2013] HCA 56 Environment Agency v Empress Car Co (Abertillery) Ltd [1999] 2 AC 22 Gratrax Pty Ltd v T D & C Pty Ltd [2013] QCA 385 Hay Properties Consultants Pty Ltd v Victorian Securities Corporation Ltd [2010] VSCA 247; 241 FLR 335 Hirst v Nominal Defendant [2005] QCA 65; [2005] 2 Qd R Janos v Chama Motors Pty Ltd [2011] NSWCA 238 Knott Investments Pty Ltd v Fulcher [2013] QCA 67; [2014] 1 Qd R 21 MacKinlay v Derry Dew Pty Ltd [2014] WASCA 24 Medlin v The State Government Insurance Commission (1995) 182 CLR 1; [1995] HCA 5 New South Wales v Nominal Defendant [2009] NSWCA 225 Paul v Cooke [2013] NSWCA 314 Robinson v Harman (1848) 1 Exch 850 Ruddock v Taylor [2003] NSWCA 262 Sherson & Associates v Bailey [2000] NSWCA 275 Sullivan v Moody (2001) 207 CLR 562; [2001] HCA 59 St Vincent's Hospital (Melbourne) Inc v University of Adelaide [2002] VSC 297 Tabcourt Holdings Ltd v Bowen Investments Pty Ltd (2009) 236 CLR 272; [2009] HCA 8 Travel Compensation Fund v Robert Tambree t/as R Tambree and Associates (2005) 224 CLR 627; [2005] HCA 69 Wallace v Kam (2013) 297 ALR 383; [2013] HCA 19 Willis v Commonwealth (1946) 73 CLR 105 ; [1946] HCA 22 Category: Principal judgment Parties: Simon Anish Chand (plaintiff) Representation: Counsel: MJ Neil QC/WJ Wilcher (plaintiff) Solicitors: Prime Lawyers (plaintiff) HWL Ebsworth Lawyers (defendant) File Number(s): 2011/294335