London City Equities Ltd v Ernst and Young [2019] NSWSC 963

Supreme Court New South Wales

Medium Neutral Citation: London City Equities Ltd v Ernst and Young [2019] NSWSC 963 Hearing dates: 29 March 2019 Decision date: 01 August 2019 Jurisdiction: Common Law Before: Fullerton J Decision: Leave is granted to amend the Statement of Claim of 4 December 2018 to reflect the reasons for judgment on the plaintiffs' Notice of Motion of 9 May 2018. Catchwords: NEGLIGENCE – motion to amend pleadings – claim by shareholders in negligence against auditors Legislation Cited: Trade Practices Act 1974 (Cth) Cases Cited: Batistatos v Roads and Traffic Authority of New South Wales (2006) 226 CLR 256; [2006] HCA 27 Caparo Industries Plc Dickman [1990] 2 AC 605 Esanda Finance Corporation Limited v Peat Marwick Hungerfords (1997) 188 CLR 241; [1997] HCA 8 Woolcock Street Investments Pty Ltd v CDG Pty Ltd (2004) 216 CLR 515; [2004] HCA 16 Category: Principal judgment Parties: London City Equities Limited ACN 003 200 664 (1st Plaintiff) Imperial Pacific Fund Managers Pty Ltd ACN 008 561 153 ATF The Australian Capital Growth Trust (2nd Plaintiff) Capel Court Corporation Pty Limited ACN 000 590 572 (3rd Plaintiff) Wildrose Pty Ltd ACN 056 215 895 as trustee for the M Westwood Superannuation Fund (4th Plaintiff) Ernst & Young in their capacity as Auditors of Penrice Soda Holdings Ltd ACN 109 193 419 (1st Defendant) Others (2nd to 62nd Defendants) Representation: Counsel: JE Sexton SC / CD Freeman BC Roberts SC