Bernard Laverty v Searle [2000] NSWSC 1019

Bernard Laverty v Searle [2000] NSWSC 1019

Mr Searle failed to exercise reasonable diligence as required by clause 9(a) of the trust deed, which caused loss to the plaintiff, entitling the plaintiff to damages.

Parties
Plaintiff: Bernard Laverty Pty Limited; Third Defendant: Hilton George Searle
Jurisdiction
Australia
Judgment Date
30 October 2000
Procedural Posture
Civil / Final Judgment
Outcome
Judgment for the plaintiff against the third defendant with costs.
Legal Topics
Damages for Breach of Duties as Trustee
Trusts Corporations Damages for Breach of Duties as Trustee

Case Brief

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Parties

Bernard Laverty Pty Limited

Plaintiff

Hilton George Searle

Third Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Whether Mr Searle breached his duties as trustee under clause 9(a) of the trust deed
  2. 2 Whether the plaintiff lost money as a result of Mr Searle's breach

Ratio Decidendi

Mr Searle failed to exercise reasonable diligence as required by clause 9(a) of the trust deed, which caused loss to the plaintiff, entitling the plaintiff to damages.

Court Disposition

Judgment for the plaintiff against the third defendant with costs.

Orders

  • Judgment for the plaintiff against Mr Searle in the sum of $1,312,895.50
  • Mr Searle to pay the plaintiff's costs as against him