Charlotte is passionate about the environment and creating a sustainable future through horticulture. In 2020, Charlotte quit her job as an IT technician to undertake a diploma of horticulture. After graduating with her diploma, she set up her own nursery e-business on Instagram ('Charlie's Green Thumb').

In 2021 , Charlotte decided to expand her business. She arranged a meeting with Mr Liam Shonky, an accountant and financial adviser specialised in business expansion. After their meeting, Mr Shonky agreed to business compose a plan for Charlotte to grow her e-business. Mr Shonky advised Charlotte that she was in a sound position to expand and recommended that she borrow money to set up a physical store to accompany her e-business in Sugar Street, in Sydney's Eastern suburbs. Charlotte relied on Mr Shonky's advice and acting on it decided to borrow $500,000 from Easy Credit, a small credit union that provides loans and overdraft facilities for small businesses. Charlotte rented an old warehouse to convert into her physical store and installed a $50,000 water irrigation system so she could grow a small nursery in-store on a hire purchase agreement. Under this agreement, Charlotte was required to pay $2083.35 per month for 24 months plus interest. Charlotte also hired a customer service representative, Alan, to serve customers at the store whilst she was tending to her larger nursery outside of Sydney.

Unfortunately, Charlotte's physical business was not as successful as her e-business and within two months Charlotte was in serious financial trouble. Mr Shonky admitted that he had not adequately factored in Charlotte's pre-existing debts, and had also underestimated the significant establishment costs associated with setting up a physical business in Sydney. Mr Shonky explained to Charlotte that at the time of preparing his advice to Charlotte, he had been under a lot of stress from his divorce and instead of undertaking research relevant to Charlotte's business, he had simply copied a business plan he had previously prepared for another client. Charlotte has suffered some serious financial losses as a result of this advice. She is also unable to meet the loan repayments to Easy Credit or the fees for the water irrigation system under the hire purchase agreement. Charlotte is also unable to pay Alan's wages.

Using the ILAC format, Advise Charlotte on any rights and liabilities arising from these facts, citing relevant statutory and case law authority.