Swiss Re International SE v David Simpson [2018] NSWSC 233

Supreme Court New South Wales

Medium Neutral Citation: Swiss Re International SE v David Simpson [2018] NSWSC 233 Hearing dates: 31 October 2017, 1, 2, 6, 7, 8, 9, 13, 14, 15, 16, 20, 21, 22, 23, 24, 27, 28, 29, 30 November 2017, 4 December 2017 Decision date: 02 March 2018 Jurisdiction: Equity - Commercial List Before: Hammerschlag J Decision: The proceedings are dismissed. Catchwords: CONSUMER LAW – Competition and Consumer Act 2010 (Cth) – Schedule 2, ss 18(1) and 236(1) – Misleading or deceptive conduct – plaintiff insurers claimed that they were induced to issue surety performance bonds for a publicly listed company by misleading or deceptive conduct on the part of the defendant individual officers of the company – misleading or deceptive conduct claimed to be representations and non-disclosures – no claim of accessorial liability – HELD: no misleading or deceptive conduct on the part of the defendants established – the alleged misleading or deceptive conduct was not causative of the plaintiffs' loss. Legislation Cited: Civil Procedure Act 2005 (NSW) Competition and Consumer Act 2010 (Cth) Corporations Act 2001 (Cth) Law Reform (Miscellaneous Provisions) Act 1946 (NSW) Cases Cited: Awad v Twin Creeks Properties Pty Limited [2012] NSWCA 200 Barton v Croner Trading Pty Ltd (1984) 3 FCR 95 BFSL 2007 Limited & Ors (in Liquidation) v Steigrad [2013] NZSC 156 C H Real Estate v Jainran Pty Ltd (2010) 14 BPR 27,361 Cackett v Keswick [1902] 2 Ch 456 Campbell v Backoffice Investments Pty Ltd (2009) 238 CLR 304 Chappel v Hart (1998) 195 CLR 232 Chubb Insurance Co of Australia Ltd v Moore [2013] NSWCA 212 Commercial Union Insurance Co of Australia v Ferrcom Pty Ltd (1991) 22 NSWLR 389 Downey & Anor v Carlson Hotels [2005] QCA 199 Ellis v Wallsend District Hospital (1989) 17 NSWLR 553 Fabcot v Port Macquarie-Hastings Council [2011] NSWCA 167 March v (E & M) Stramare Pty Ltd (1991) 171 CLR 506 Miller & Associates Insurance Broking Pty Ltd v BMW Australia Finance Limited (2010) 241 CLR 357 Rosenberg v Percival (2001) 205 CLR 434 Sidhu v Van Dyke (2014) 251 CLR 505 Travel Compensation Fund v Tambree (t/as R Tambree and Associates) and Others (2005) 224 CLR 627 Wallace v Kam (2013) 250 CLR 375 Wheeler Grace & Pierucci Pty Ltd v Wright (1989) ATPR 40-940 State of Western Australia v Bond Corporation Holdings Ltd (1991) ATPR 41-081 Texts Cited: J D Heydon, Trade Practices Law (Looseleaf Service) Category: Principal judgment Parties: Swiss Re International SE and QBE Insurance (Australia) Ltd - Plaintiffs David Simpson - First Defendant Donald Montgomery - Second Defendant Andrew Bell - Third Defendant Chubb Insurance Australia Limited - Fourth Defendant Allianz Australia Insurance Limited - Fifth Defendant Axis Specialty Europe SE (registered as a foreign company under the Corporations Act 2001) - Sixth Defendant Representation: Counsel: R.A. Dick SC with S.A. Goodman SC, R.D. Glover and L. Rich - Plaintiffs J. Lockhart SC with J. Hutton - First Defendant A.S. Bell SC with V. Whittaker - Second Defendant C.H. Withers with P. Meagher - Third Defendant E. Muston SC with J. Dooley - Fourth to Sixth Defendants