The Institute of Chartered Accountants in New Zealand (ICANZ) proposed a policy of proportionate liability to replace the country's existing "joint and several liability" approach. Why was the proposal denied?

Question

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The proposal was denied because the existing approach of joint and several liability was seen as the most fair and efficient way to ensure that injured parties receive full compensation, regardless of the ability of individual defendants to pay. Proportionate liability would have shifted more of the burden onto injured parties to identify and pursue multiple defendants, rather than holding all parties responsible for the harm caused. Fairness to defendants was not seen as a relevant consideration in ensuring fairness to injured parties.

The Institute of Chartered Accountants in New Zealand (ICANZ) Proposed