Finding & Anor v CBA

In *Finding & Anor v CBA*, the High Court of Australia considered a dispute between the appellants, Mr and Mrs Finding, and the respondent, the Commonwealth Bank of Australia. The core of the dispute concerned the Bank's alleged breach of its duty of care to the Findings in relation to certain financial advice and transactions.

The High Court was required to determine whether the Bank owed a duty of care to the Findings in the circumstances, and if so, whether that duty had been breached. Specifically, the court had to consider the nature and scope of the Bank's obligations in providing financial advice and facilitating investment decisions, particularly where the advice may have been influenced by the Bank's own interests.

The Court's reasoning focused on the established principles of negligence and the duty of care owed by financial institutions to their clients. It examined the nature of the relationship between the parties, the information provided by the Bank, and the reliance placed upon that information by the Findings. The Court ultimately found that the Bank had breached its duty of care to the Findings, holding that the Bank's conduct fell below the standard expected of a reasonable financial institution in similar circumstances.

The High Court allowed the appeal, setting aside the orders of the Full Federal Court and remitting the matter to the Federal Court of Australia for further determination of the quantum of damages.