ALLIANZ V FYNA [2000] NSWSC 657
Supreme Court of NSW – 6 August 2001
FACTS
In 1993 a company named Fyna Formwork Pty Limited (Fyna 1) was registered in NSW. It was renamed Concrete Formwork Pty Ltd (Concrete) on 23 June 1995 and another company with the same directors was registered with the name Fyna Formwork Pty Ltd (Fyna 2) on the same day.
Fyna 2 and Concrete entered into a contract whereby Concrete would supply labour to Fyna 2 to enable Fyna 2 to meet its obligations under its subcontract.
Fyna 1 entered into a contract for Insurance as required under the Workers Compensation Act with Allianz.
In November 1998 Fyna 1 ceased to exist. After 23 June 1995 a number of claims were made by Fyna 2 using the policy and account number of Fyna 1. These documents referred to the pre-existing contract with Fyna 1.
Allianz sought to have the contract enforced to recover unpaid premiums. For some unexplained reason there were premiums of about $3M outstanding when Allianz issued this proceeding.
ISSUES
Whether Fyna 2 was estopped from denying that there was an insurance contract between it and Allianz.
Whether a contract existed between Fyna 2 and Allianz.
Whether Fyna 2 was liable under S52 of the Trade Practices Act for misleading and deceptive conduct.
FINDING
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