Offshore Development Company v Deloitte and Touche (1111 of 2006) [2018] NAHCMD 299 (25 September 2018)

Offshore Development Company v Deloitte and Touche (1111 of 2006) [2018] NAHCMD 299 (25 September 2018)

Plaintiff failed to prove that its patrimony was diminished by N$65 million or at all, as the funds lost belonged to third parties (NDC and Silnam) and not plaintiff; therefore, plaintiff could not claim what it itself had not lost.

Citation
[2018] NAHCMD 299
Parties
Plaintiff: Offshore Development Company (Pty) Limited; Defendant: Deloitte & Touche
Court
High Court Main Division
Jurisdiction
Namibia
Judgment Date
25 September 2018
Case Number
1111 of 2006
Procedural Posture
Civil / Judgment After Trial on Separated Issues Under Rule 63
Outcome
claim dismissed with costs
Legal Topics
Special Case Procedure, Auditor Liability, Loss Quantification, State Owned Enterprise Funding
Source Language
English
Civil Procedure Contract Law Special Case Procedure Auditor Liability Loss Quantification State Owned Enterprise Funding

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Parties

Offshore Development Company (Pty) Limited

Plaintiff

Deloitte & Touche

Defendant

Procedural Posture

Civil / Judgment After Trial on Separated Issues Under Rule 63

Legal Issues

  1. 1 Did plaintiff suffer a loss for which it could claim from defendant?
  2. 2 Did the loss claimed belong to plaintiff or third parties (NDC and Silnam)?
  3. 3 Was plaintiff's patrimony diminished by the investment loss?

Ratio Decidendi

Plaintiff failed to prove that its patrimony was diminished by N$65 million or at all, as the funds lost belonged to third parties (NDC and Silnam) and not plaintiff; therefore, plaintiff could not claim what it itself had not lost.

Court Disposition

claim dismissed with costs

Orders

  • Plaintiff’s claim is dismissed with costs, including costs of one instructing counsel and two instructed counsel.