6 Oct 2014
TRUSTEES EXECUTORS LTD v FUND MANAGERS CANTERBURY LTD [2014] NZHC 2444
- Citation
- [2014] NZHC 2444
- Court
- High Court
The Court held Deloitte and Mr Mody caused the 'same damage' under s 17(1)(c) because both allegedly failed in their respective oversight duties to warn of FMCL's breaches which resulted in the same loss; notwithstanding that finding the third party claim was struck out because there was no reasonable possibility that Mr Mody's contributory liability could differ from or exceed TEL's contributory negligence such that allowing the contribution claim would be an abuse of process (risking double recovery); accordingly the third party notice was struck out.