Accountant’s advice, related party fund and $10million loss: misleading conduct, fiduciary breach and personal exposure

Bridget Wall and Ellie Pimley of Hall & Wilcox examine a NSW Supreme Court decision holding an accountant and financial adviser personally liable for more than $10 million after directing client funds into a related-party investment scheme, confirming that misleading conduct, fiduciary breaches, knowing assistance and the loss of a corporate trustee’s indemnity can expose advisers and directors beyond the insolvent entities they control.

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