John Albert Overall & Ors v John Sotirious Terpu & Anor [2003] NSWSC 986

John Albert Overall & Ors v John Sotirious Terpu & Anor [2003] NSWSC 986

The settlement was appropriate to sanction because the third plaintiff was to receive the full amount claimed, $5,481.75, without any deduction for costs, counsel had advised on the reasonableness of the settlement, and there was a significant litigation risk concerning whether the alleged representations could be attributed to the defendants; approval was subject to provision that the amount payable to the third plaintiff be paid into his bank account when received.

Jurisdiction
Australia
Judgment Date
28 October 2003
Procedural Posture
Application for Approval and Sanction of Settlement Under Section 4 of the Damages (infants and Persons of Unsound Mind) Act 1929 (nsw) / Notice of Motion for Court Approval of Deed of Settlement Before Trial
Outcome
Sanction of settlement granted subject to provision for payment of the third plaintiff's settlement amount into his bank account when received.
Legal Topics
['sanction of Settlement' "court Approval of Minor's Settlement" 'alleged Misleading and Deceptive Conduct in Dealings in Securities' 'alleged Representations Concerning Options and Contributing Shares' 'agency Issue']
['equity' 'civil Procedure' 'damages' 'infants and Persons of Unsound Mind' 'securities'] ['sanction of Settlement' "court Approval of Minor's Settlement" 'alleged Misleading and Deceptive Conduct in Dealings in Securities' 'alleged Representations Concerning Options and Contributing Shares' 'agency Issue']

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Procedural Posture

Application for Approval and Sanction of Settlement Under Section 4 of the Damages (infants and Persons of Unsound Mind) Act 1929 (nsw) / Notice of Motion for Court Approval of Deed of Settlement Before Trial

Legal Issues

  1. 1 ['Whether the Court should approve and sanction the settlement of the proceedings on behalf of the third plaintiff pursuant to section 4 of the Damages (Infants and Persons of Unsound Mind) Act 1929 (NSW).' 'Whether the settlement sum for the third plaintiff was reasonable having regard to the quantum of his claim, the absence of deductions for costs, and the litigation risk concerning whether alleged representations could be sheeted home to the defendants.']

Ratio Decidendi

The settlement was appropriate to sanction because the third plaintiff was to receive the full amount claimed, $5,481.75, without any deduction for costs, counsel had advised on the reasonableness of the settlement, and there was a significant litigation risk concerning whether the alleged representations could be attributed to the defendants; approval was subject to provision that the amount payable to the third plaintiff be paid into his bank account when received.

Court Disposition

Sanction of settlement granted subject to provision for payment of the third plaintiff's settlement amount into his bank account when received.

Orders

  • ['Leave granted to the plaintiffs to file a notice of motion seeking an order pursuant to section 4 of the Damages (Infants and Persons of Unsound Mind) Act 1929 (NSW).' 'Leave granted to the plaintiffs to file the affidavit of Chrisanthe Makris of 27 October 2003, which was read in support of the application.' 'The...