Coote v Price [2016] NSWSC 1658

Coote v Price [2016] NSWSC 1658

The first plaintiff is entitled to damages for breach of the contractual promise to maintain the life insurance policies, as the deceased's failure caused the loss of policy benefits. The first plaintiff may enforce, as trustee, the deceased's promise to leave business interests for the benefit of the daughters, justifying imposition of a constructive trust and an account of profits. NSW law is presumed to apply.

Parties
First Plaintiff: Carol Coote; Second Plaintiff: Diane Coote; Third Plaintiff: Suzanne Coote; First Defendant: Amanda Elizabeth Price; Second Defendant: Ella Kathleen Montgomery
Jurisdiction
Australia
Judgment Date
24 November 2016
Procedural Posture
Civil (equity) / Final Judgment on Undefended Application
Outcome
First plaintiff entitled to judgment for damages; constructive trust imposed for daughters; directions listed for final orders
Legal Topics
Damages for Breach of Contract, Constructive Trust, Account of Profits, Enforcement of Foreign Judgment, Presumption of Foreign Law
Contract Private International Law Equity Trusts Remedies Damages for Breach of Contract Constructive Trust Account of Profits +2 more

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Parties

Carol Coote

First Plaintiff

Diane Coote

Second Plaintiff

Suzanne Coote

Third Plaintiff

Amanda Elizabeth Price

First Defendant

Ella Kathleen Montgomery

Second Defendant

Procedural Posture

Civil (equity) / Final Judgment on Undefended Application

Legal Issues

  1. 1 Whether the first plaintiff is entitled to damages for breach of a promise to maintain life policies under a contract governed by Californian law
  2. 2 Whether the first plaintiff may enforce the deceased's promise to leave a share of business to the daughters on their behalf
  3. 3 Whether a constructive trust should be imposed over the deceased's share in the business in favour of the daughters

Ratio Decidendi

The first plaintiff is entitled to damages for breach of the contractual promise to maintain the life insurance policies, as the deceased's failure caused the loss of policy benefits. The first plaintiff may enforce, as trustee, the deceased's promise to leave business interests for the benefit of the daughters, justifying imposition of a constructive trust and an account of profits. NSW law is presumed to apply.

Court Disposition

First plaintiff entitled to judgment for damages; constructive trust imposed for daughters; directions listed for final orders

Orders

  • Judgment for Carol Coote for damages for lost insurance policy proceeds (approx. $3.125 million plus interest)
  • Interest awarded under s 100 Civil Procedure Act 2005 (NSW)