Liability update: Casaclan v Wealthsure Pty Ltd [2015] FCA 761

Casaclan v Wealthsure Pty Ltd [2015] FCA 761 is the most recent decision involving Wealthsure Pty Ltd and their former authorised representative Mr Colin Oberg following the High Court's Selig & Another v Wealthsure Pty Ltd (2015) 320 ALR 47 judgement.

The Claimants', a group of seven former clients of Mr Oberg and Wealthsure, commenced separate actions alleging that Mr Oberg misappropriated client funds during the period that he was an authorised representative of Wealthsure (18 October 2004 to 30 September 2010) and the period after Wealthsure had terminated Mr Oberg's representative status (1 October 2010 to 25 July 2011). The claims alleged that Wealthsure was liable for the conduct of Mr Oberg and sought to be compensated for losses suffered in both periods.