Banking Wednesday, 18 March 2015 View in browser

A daily Bulletin listing our choice of Decisions of Superior Courts of Australia.
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Executive Summary (One Minute Read)
Gadens Lawyers Sydney Pty Ltd v Symond (NSWCA) – damages – negligence - breach of contract – misleading and deceptive conduct – negligent misstatement - appeal against assessment of damages allowed in part 
Valuer-General v Fivex Pty Ltd (NSWCA) – valuation of land – unimproved value of fee simple – assumptions in s6A(2) Valuation of Land Act 1916 (NSW) – appeal allowed 
Walton v Walton (NSWSC) – equity – no undue influence in execution of deed by deceased – statement of claim struck out 
Summaries With Link (Five Minute Read)
Gadens Lawyers Sydney Pty Ltd v Symond [2015] NSWCA 50
Court of Appeal of New South Wales
McColl & Gleeson JJA; Tobias AJA
Damages - professional negligence - contract - misleading and deceptive conduct - damages – respondent sued law firm in relation to legal advice concerning tax consequences of revised ownership structure of business – primary judge found appellant negligent , in breach of contract and in contravention of s52 Trade Practices Act 1974 (Cth) – appellant appealed against  assessment of damages – held: no error in primary judge’s comparison undertaking for assessment of loss - primary erred in concluding respondent suffered loss by forfeiture of franking credits in franking account – no error in determination of pre-judgment interest to be included in respondent’s damages – appeal allowed in part.
Gadens
Valuer-General v Fivex Pty Ltd [2015] NSWCA 53
Court of Appeal of New South Wales
Basten, Gleeson & Leeming JJA
Valuation of land – unimproved value of fee simple - appeal and cross-appeal from determination of valuations of land on which building was erected – building found to have floor space ratio which was greater than permitted by local government plan - primary judge had expressly determined land value pursuant to s 6A(1) Valuation of Land Act 1916 (NSW) without making assumptions stated in s6A(2) – primary judge held that finding of highest and best use had consequence that assumptions identified in s6A(2) were not engaged   – whether s6A2 had further operation once highest and best use determined  - mandatory assumption as to existing uses and improvements – statutory construction - held: respondents’ construction of s6A(2) rejected - primary judge did not err in failing to address GST treatment of sales where argument not made at trial – appeal allowed – cross-appeal dismissed.
Valuer-General
 
Walton v Walton [2015] NSWSC 218
Supreme Court of New South Wales
Stevenson J
Equity - undue influence - plaintiff and first defendant were children of deceased - proceedings concerning deed made between first defendant and wife on the one hand, and plaintiff on the other - deed forgave debts owed by defendants to deceased - plaintiff asserted execution of deed by deceased was brought about by exertion of undue influence by defendants - held: Court satisfied deceased understood effect of entry into deed and that deed - Court satisfied deceased’s entry into deed was her own idea - plaintiff failed to satisfy Court deceased’s execution of deed brought about by undue influence – statement of claim dismissed (B)
Walton