Landmark adviser lawsuit case closed

The case involved retired vet Neil Armitage, who sued Moneyworks adviser Carey Church after his investments in a handful of finance companies lost money.

He was partly successful, with High Court Justice Robert Dobson awarding him over $60,000 out of an original claim for more than $300,000.

The judge ruled Church had recommended too large an exposure to finance companies.

He also found her to be negligent in recommending the ING credit opportunities fund (COF) as a fixed interest component of the investment, ruling that it was not a fixed interest investment, despite documentation to suggest it was.