Napiat Pty Ltd & Anor v Bema Gold (Australia) Pty Ltd [2012] NSWSC 326
Bema was not the owner of the assets and lacked capacity to dispose of them; TPM was deprived of the market value of the assets. The fair market value is the amount Heli-Serv was willing to pay in a subsequent arm's length transaction ($209,000). TPM is entitled to damages for loss of bargain in that amount with interest from 9 May 2009.
- Jurisdiction
- Australia
- Judgment Date
- 18 April 2012
- Procedural Posture
- Contract / Principal Judgment
- Outcome
- judgment for plaintiffs
- Legal Topics
- ['agreement for Sale of Fixtures' 'breach of Warranty of Ownership' 'assessment of Damages']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Contract / Principal Judgment
Legal Issues
- 1 ['whether Bema breached contract by lack of ownership and disposal capacity' 'assessment of damages for breach of warranty of ownership']
Ratio Decidendi
Bema was not the owner of the assets and lacked capacity to dispose of them; TPM was deprived of the market value of the assets. The fair market value is the amount Heli-Serv was willing to pay in a subsequent arm's length transaction ($209,000). TPM is entitled to damages for loss of bargain in that amount with interest from 9 May 2009.
Court Disposition
judgment for plaintiffs
Orders
- ['Bema Gold (Australia) Pty Ltd ordered to pay damages of $209,000 to plaintiffs with interest from 9 May 2009' "Bema Gold (Australia) Pty Ltd prima facie ordered to pay plaintiffs' costs of proceedings" 'Opportunity to be given to second and third defendants to be heard on question of costs' 'Plaintiffs to bring in...
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