Legal Opinion
Westpac Banking Corp. v. Deschamps
New York Court of Appeals
Decided October 15, 1985PublishedCited by 43 opinions
1Opinion of the Court
*17OPINION OF THE COURT
Kaye, J.
In an action at common law by a lender against accountants for negligence in the preparation of a borrower’s financial statements, where a link between the accountants and the lender is not shown a complaint is properly dismissed (Credit Alliance Corp. v Andersen & Co., 65 NY2d 536), even though the Federal securities laws provide that the accountants may have statutory liability to the public.
This action arises out of the collapse in March 1983 of Turnkey Equipment Leasing, Inc. (TEL) and its wholly owned subsidiary Turnkey Information Processing, Inc. (TIP),…
2Cases cited4 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
- Ultramares Corp. v. ToucheNew York Court of Appeals · 1931
- Credit Alliance Corp. v. Arthur Andersen & Co.Appellate Division of the Supreme Court of the State of New York · 1984
3Cited by43 opinions
- Ossining Union Free School District v. AndersonNew York Court of Appeals · 1989
- Security Pacific Business Credit, Inc. v. Peat Marwick Main & Co.New York Court of Appeals · 1992
- RamiroAviles v. S&P Global, Inc.District Court, S.D. Illinois · 2019
- William Iselin & Co. v. LandauNew York Court of Appeals · 1988
- Alpert v. Shea Gould Climenko & CaseyAppellate Division of the Supreme Court of the State of New York · 1990
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