Done v Financial Wisdom Ltd

In the matter of Done v Financial Wisdom Ltd, the applicants seek to join Allianz Australia Insurance Limited as a respondent to the proceeding and amend the pleadings accordingly. The applicants, who include Mr. and Mrs. Done and their associated trustee companies, allege significant financial losses due to the alleged unauthorised actions of Financial Wisdom Ltd, Bentley Barton, and their representatives. The proposed further amended statement of claim alleges a series of unauthorised investments and loans that the applicants claim were contrary to Mr. Done's express instructions. The applicants seek to join Allianz under various legal provisions, including Order 6 rule 2 of the Federal Court Rules, section 562 of the Corporations Act, and section 6(4) of the Law Reform (Miscellaneous Provisions) Act 1946 (NSW).

The legal issues before the court revolve around whether Allianz should be joined as a party to the proceeding and if leave should be granted to proceed against Bentley Barton and the estate of Gary Taylor under relevant statutes. The court considered the complexity of the proceeding, the seriousness of the claims, and the potential involvement of an insurance policy in determining whether leave should be granted. The court found that the complexity and potential insurance coverage warranted granting leave to proceed against the respondents as proposed.

The court granted the applicants' motion to join Allianz Australia Insurance Limited as a respondent, granted leave to proceed against Bentley Barton and the estate of Gary Taylor, and permitted the filing of a further amended statement of claim. Allianz was ordered to pay the applicants' costs associated with the motion seeking its joinder. This decision ensures that all relevant parties are included in the proceeding and allows the applicants to pursue their claims against the proposed respondents.