For the Good Times Pty Ltd v Coltern Pty Ltd [2007] NSWSC 807

For the Good Times Pty Ltd v Coltern Pty Ltd [2007] NSWSC 807

The first, sixth, seventh, and eighth defendants were liable for breach of contract by failing to use best endeavours to secure second mortgages for the plaintiff and liable as persons knowingly concerned in misleading or deceptive conduct under s 52 of the Trade Practices Act 1974 (Cth), as the representations made caused the plaintiff to invest and lose its funds.

Parties
Plaintiff: For the Good Times Pty Ltd; First Defendant: Coltern Pty Ltd; Second Defendant: ACN 079 357 243 Pty Ltd; Third Defendant: Brasic Pty Ltd; Fourth Defendant: Sokido Pty Ltd; Fifth Defendant: Griffith Land Development Co Pty Ltd; Sixth Defendant: Norman Clifford Boyle; Seventh Defendant: Richard Lee Woods; Eighth Defendant: Larry Owen Hanley; Ninth Defendant: Amdoll Holdings Pty Ltd
Jurisdiction
Australia
Judgment Date
25 July 2007
Procedural Posture
Damages Claim (equity Division) / Final Judgment After Hearing
Outcome
Judgment for the plaintiff against first, sixth, seventh and eighth defendants; verdicts (with interest) for losses as detailed; summary judgment motion dismissed; costs awarded to plaintiff.
Legal Topics
Breach of Contract, Knowingly Concerned Liability, Misleading or Deceptive Conduct, Best Endeavours, Joint Ventures, Summary Judgment, Second Mortgages, Damages, Shareholders' Agreements
Contract Law Consumer Protection Equity Civil Procedure Breach of Contract Knowingly Concerned Liability Misleading or Deceptive Conduct Best Endeavours +5 more

Case Brief

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Parties

For the Good Times Pty Ltd

Plaintiff

Coltern Pty Ltd

First Defendant

ACN 079 357 243 Pty Ltd

Second Defendant

Brasic Pty Ltd

Third Defendant

Sokido Pty Ltd

Fourth Defendant

Griffith Land Development Co Pty Ltd

Fifth Defendant

Norman Clifford Boyle

Sixth Defendant

Richard Lee Woods

Seventh Defendant

Larry Owen Hanley

Eighth Defendant

Amdoll Holdings Pty Ltd

Ninth Defendant

Procedural Posture

Damages Claim (equity Division) / Final Judgment After Hearing

Legal Issues

  1. 1 Whether first, sixth, seventh, and eighth defendants are liable in damages for breach of contract and as persons knowingly concerned in contraventions of s 52 of the Trade Practices Act 1974 (Cth)
  2. 2 Whether defendants used best endeavours to secure second mortgages as required under contract
  3. 3 Whether misleading or deceptive conduct occurred within the meaning of s 52 of the Trade Practices Act 1974 (Cth)

Ratio Decidendi

The first, sixth, seventh, and eighth defendants were liable for breach of contract by failing to use best endeavours to secure second mortgages for the plaintiff and liable as persons knowingly concerned in misleading or deceptive conduct under s 52 of the Trade Practices Act 1974 (Cth), as the representations made caused the plaintiff to invest and lose its funds.

Court Disposition

Judgment for the plaintiff against first, sixth, seventh and eighth defendants; verdicts (with interest) for losses as detailed; summary judgment motion dismissed; costs awarded to plaintiff.

Orders

  • Against Coltern Pty Ltd for $630,000;
  • Against Norman Clifford Boyle for $2,178,008;