Ward v Ward (No 2) [2011] NSWSC 1292

The first defendant breached his fiduciary duty as attorney under power by making an unsecured, undisclosed loan for a speculative development, rendering him liable to account to the plaintiff for resultant losses.

Jurisdiction: Australia
Judgment Date: 18 October 2011
Procedural Posture: Equity / Consequential Orders After Earlier Judgment
Outcome: First defendant to pay plaintiff $218,000; recovery against one defendant is pro tanto satisfaction as against the other; first defendant to pay plaintiff's costs since 4 February 2011, subject to any earlier order.
Legal Topics: ['power of Attorney' 'breach of Fiduciary Duty' 'interest Calculation' 'costs Orders']

['equity' 'fiduciary Duties'] ['power of Attorney' 'breach of Fiduciary Duty' 'interest Calculation' 'costs Orders']

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Procedural Posture

Equity / Consequential Orders After Earlier Judgment

Legal Issues

1 ['Whether the first defendant breached his fiduciary duty as attorney under a power of attorney by entering into a loan agreement with the second defendant' 'Calculation of recoverable losses and interest']

Ratio Decidendi

Court Disposition

First defendant to pay plaintiff $218,000; recovery against one defendant is pro tanto satisfaction as against the other; first defendant to pay plaintiff's costs since 4 February 2011, subject to any earlier order.

Orders

['First defendant to pay plaintiff the sum of $218,000.' 'Recovery against either defendant is pro tanto satisfaction of judgment against the other.' "First defendant to pay plaintiff's costs of the proceedings since 4 February 2011, subject to other costs orders."]