Barnes v Addy: the requirements of knowledge

Article Abstract:

Australian, Uk and New Zealand courts have considered the issue of when liability for breach of fiduciary duties can extend to parties not originally charged with the duty based on actual or constructive knowledge. The 1874 English case Barnes v. Addy established that the third party may be liable if the party becomes an agent or provides assistance and has knowledge of the fiduciary's dishonest intent. Knowledge is found if there was actual knowledge or if knowledge would have been obtained in the course of reasonable investigations.

United Kingdom, New Zealand, Fiduciary duties

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Corporate benefit in relation to guarantees and third party mortgages

Article Abstract:

Corporate benefit inquiry is relevant to issues that arise in the context of third party mortgages and corporate guarantees occurring in the corporate group context. Contrary to popular belief, it is not necessary that all guarantees be supported by the conveyance of some corporate benefit. Lenders should investigate corporate benefit issues when the transactions may be voidable as uncommercial or involving insolvency or constructive trusts.

Mortgages, Suretyship and guaranty, Guarantees, Sureties

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Auditors' duties to third parties - time for the High Court to issue a definitive ruling

Article Abstract:

The High Court of Australia should give a ruling deciding the question of the duties of auditors to third parties. This need is illustrated by two recent decisions. The Victorian Supreme Court decision is R.W. Lowe Lippmann Figdor & Frank v. AGC Advances Pty The New South Wales Supreme Court decision is Columbia Coffee & Tea Pty v. Churchill.

Malpractice, Auditors

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