Price Waterhouse v Kwan
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| Price Waterhouse v Kwan | |
|---|---|
 | |
| Court | Court of Appeal of New Zealand |
| Full case name | PRICE WATERHOUSE Appellant AND P KWAN AND OTHERS Respondents AND BETWEEN PRICE WATERHOUSE Appellant AND K D HUGHES per N M HUGHES Respondent |
| Decided | 16 December 1999 |
| Citation | [2000] 3 NZLR 39 |
| Transcript | Court of Appeal judgment |
| Court membership | |
| Judges sitting | Gault J, Keith J, Tipping J |
| Keywords | |
| negligence | |
Price Waterhouse v Kwan [2000] 3 NZLR 39 is a cited case in New Zealand regarding liability for negligent misstatements.[1]
Background
[edit]Price Waterhouse were the auditors of a law firm. It was later claimed that Price Waterhouse were negligent in their audits resulting in them losing their investments.
Held
[edit]As the purpose of the audits was for the protection of clients money, there was sufficient proximity to hold that PW owed them a duty of care, and were accordingly ordered to pay damages.
The previous ruling in the McLaren Maycroft & Co v Fletcher Development Co Ltd case was overturned.
References
[edit]- ^ McLay, Geoff (2003). Butterworths Student Companion Torts (4th ed.). LexisNexis. ISBN 0-408-71686-X.
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