AE Consulting Pty Ltd v Online Valuations Pty Ltd [2012] NSWSC 1300

AE Consulting Pty Ltd v Online Valuations Pty Ltd [2012] NSWSC 1300

Judgment should be entered for the Plaintiffs for the difference between the amount realised on resale and the loan advanced, together with reasonable costs associated with the sale; contractual interest, unpaid rates, and related legal costs incurred because of the borrower's default are not recoverable from the valuers.

Parties
First Plaintiff: AE Consulting Pty Ltd; Second Plaintiff: Liondon Pty Ltd; Third Plaintiff: Moshe Ambarchi; Fourth Plaintiff: Madine Ambarchi; First Defendant: Online Valuations Pty Ltd; Second Defendant: Joseph Nicholas Barter
Jurisdiction
Australia
Judgment Date
24 October 2012
Procedural Posture
Claim for Damages for Negligent Valuation / Default Judgment Hearing
Outcome
Default judgment entered in favour of the Plaintiffs, subject to relevant affidavit evidence being filed.
Legal Topics
Negligent Valuation, Breach of Contract, Assessment of Damages, Default Judgment Procedure
Common Law Tort Law Contract Law Negligent Valuation Breach of Contract Assessment of Damages Default Judgment Procedure

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Parties

AE Consulting Pty Ltd

First Plaintiff

Liondon Pty Ltd

Second Plaintiff

Moshe Ambarchi

Third Plaintiff

Madine Ambarchi

Fourth Plaintiff

Online Valuations Pty Ltd

First Defendant

Joseph Nicholas Barter

Second Defendant

Procedural Posture

Claim for Damages for Negligent Valuation / Default Judgment Hearing

Legal Issues

  1. 1 Whether the claim for damages against valuers is a liquidated claim
  2. 2 What damages are recoverable against valuers for negligent valuation
  3. 3 Whether contractual interest and amounts due to borrower's default are recoverable from valuers

Ratio Decidendi

Judgment should be entered for the Plaintiffs for the difference between the amount realised on resale and the loan advanced, together with reasonable costs associated with the sale; contractual interest, unpaid rates, and related legal costs incurred because of the borrower's default are not recoverable from the valuers.

Court Disposition

Default judgment entered in favour of the Plaintiffs, subject to relevant affidavit evidence being filed.

Orders

  • Upon filing appropriate affidavits, judgment for $876,198.72 together with interest to be entered for the Plaintiffs.
  • Defendants to pay the Plaintiffs' costs of the proceedings.