Professional Negligence

Pedulla v Fernando Panetta (No 2) [2011] NSWSC 1386

This case concerns costs awarded as part of compensation from the Torrens Assurance Fund. The history of the substantive proceedings are as follows. A brother fraudulently transferred his sister’s valuable northern beaches property to himself for $1, assisted by a fraudulent solicitor. The sister was in Italy with an order of nuns when this occurred. …

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Kayteal v Dignan [2011] NSWSC 197

The lender relied on a valuation in entering into the mortgage. The valuation indicated the property was worth $1.2million when in fact it was only worth $52,000. The claim against the valuer settled. The lender then proceeded against the solicitor who acted for them on the advance. The solicitor had noticed inconsistencies between the property …

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Angas Securities v Valcorp Australia [2011] FCA 190

This is a case of a negligent valuation of a property provided as security for a loan, where there were three contributory lenders. The court held the valuation contravened s52 of the Trade Practices Act 1974 (Cth) and s56 of the Fair Trading Act 1987 (SA). This made it unnecessary to consider the claims in …

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Tapp v Gray[2011] NSWSC 44

The two joint venturers had an action against a third. However their solicitor failed to advise them about it and the claim became statute-barred. The joint venturers sued the solicitor for negligence and breach of contract. The court found the solicitor negligent in failing to exercise reasonable care and skill by: failing lodge a caveat …

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Eric Preston v Euroz Securities [2011] FCAFC 11

The investor’s margin loan facility was switched to Opes Prime following the alleged misrepresentation of the stockbroker that the facility was the same as the investors previous facility. However it was not the same because the investor was exposed to greater insolvency risk under the new facility. The investor sued alleging: Misleading and deceptive conduct …

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