Strategic Property Holdings No. 3 Pty Ltd v Austbrokers RWA Pty Ltd

Strategic Property Holdings No. 3 Pty Ltd sued Austbrokers RWA Pty Ltd for professional negligence in the conduct of their role as an insurance broker. The case was heard in the Supreme Court of New South Wales, where the primary issue was the calculation of damages, specifically the quantum, that Strategic Property Holdings was owed by Austbrokers for the alleged negligence.

The court had to determine the appropriate measure of damages to compensate Strategic Property Holdings for the losses they suffered as a result of the alleged professional negligence. The legal issues included establishing whether Austbrokers owed a duty of care to Strategic Property Holdings, whether there was a breach of that duty, and if so, what the extent of the breach was and how it led to the losses claimed. The court also had to consider the foreseeability of the loss and whether the loss was too remote to be recoverable.

The court found that Austbrokers did owe a duty of care to Strategic Property Holdings and that there was a breach of that duty. The breach directly caused the losses claimed by Strategic Property Holdings. The court then turned to the issue of damages, examining the evidence presented regarding the extent of the losses and the extent to which they were caused by the breach. After considering the evidence and the arguments presented by both parties, the court determined the quantum of damages payable by Austbrokers to Strategic Property Holdings. The court awarded damages to Strategic Property Holdings, reflecting the losses they suffered due to Austbrokers' negligence.