5 Aug 2014
STEFFENSEN v BGW INVESTMENTS LIMITED [2014] NZHC 1828
- Citation
- [2014] NZHC 1828
- Court
- High Court
Court found on balance of probabilities that plaintiffs instructed BGW to sell BT and JBWere funds in mid-November 2007 and BGW negligently failed to implement those instructions; the appropriate measure of loss is the lost opportunity to use sale proceeds quantified at A$13,350 (converted to NZD equivalent as at January 2008) plus interest, together with NZ$15,000 general damages to each plaintiff; purchases of Pengana and Fisher were authorised and claims re fixed interest purchases dismissed.