A Victorian financial planner has appealed a court ruling that struck out a negligence claim against several failed Westpoint businesses.
Shepparton-based Wealthcare Financial Planning and its principal, Gregory Roberts, are attempting to have orders by Federal Court judge John Middleton relating to Westpoint's York Street and Market Street mezzanine companies overturned.
Roberts is locked in a legal battle with former clients Trevor and Judy Pollard and their company, Dartburg Pty Ltd.
The couple filed a lawsuit against the planner and his firm after they lost $600,000 through investing a retirement nest egg in the York Street and Market Street properties.
Wealthcare is relying on recent changes to the Victorian Wrongs Act that have introduced the concept of proportional liability in negligence claims.
On August 10, Justice Middleton said that section of the Wrongs Act did not apply.
Wealthcare had previously tried to access documents from Westpoint auditor KPMG and ratings agency Property Investment Research to apportion negligence to them.
However, Justice Middleton found there was not enough evidence to show those companies had not acted properly.
"We're dealing with an area of law that is incredibly complex and untested and it's not surprising that a particular view has been taken," Moray and Agnew lawyer Andrew McAdam, who is acting for Wealthcare, said.
Westpoint collapsed in November 2005 owing around $320 million to 4000 investors.
Multiple lawsuits have been filed against financial planners who recommended the group's products.
The appeal will be heard by Justices Donnell Ryan, Ray Finkelstein and Richard Tracey in the Federal Court in Melbourne on November 8.
