25 Jul 2011
SIR ROBERT EDWARD JONES, YORGEN HOLDINGS LIMITED AND TIROHANGA FAMILY TRUST V WHK SHERWIN CHAN & WALSHE HC WN CIV-2009-485-001324
- Citation
- openlaw-d237c83e_899d_4643_ac41_50b7a9c6ee74.pdf
- Court
- High Court
SCW breached its contractual and tortious duty by failing to advise on the CFC rules and failed to record and file accounts/tax returns reflecting the CFC implications; the Pamiers–RJHL lending was a single VPDI that matured within five years and the 13 March 2007 restructure did not substitute prior lending for s CD39(13) purposes; Ernst & Young's incorrect advice and the voluntary disclosure did not break the chain of causation and was reasonable mitigation; benefits from the restructure are not a compensatory offset against the tax loss; judgment for plaintiffs against the second and third…