Two Lands Services Pty Limited v Cave [2003] NSWSC 922

Two Lands Services Pty Limited v Cave [2003] NSWSC 922

The profit obtained by the Defendant from his relevant conduct is to be calculated as the total commission estimated by the Plaintiffs' expert in his first report ($250,000), less actual expenses substantiated in the Defendant's expert report ($11,235), resulting in a net profit of $238,765. The methodology must provide a reasonable approximation in the absence of mathematical exactness, and only substantiated actual expenses were allowed as deduction from profit.

Jurisdiction
Australia
Judgment Date
14 October 2003
Procedural Posture
Inquiry as to Profits / Post Judgment Inquiry Before Master
Outcome
Orders made for payment of profits and costs.
Legal Topics
['breach of Fiduciary Duty' 'account of Profits' 'employment Contract' 'restraint of Trade']
['equity'] ['breach of Fiduciary Duty' 'account of Profits' 'employment Contract' 'restraint of Trade']

Case Brief

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Procedural Posture

Inquiry as to Profits / Post Judgment Inquiry Before Master

Legal Issues

  1. 1 ['How much profit was obtained by the Defendant from his conduct in engaging in employment or any other contractual relationship with The Mortgage Professionals, whereby he conducted, solicited or otherwise promoted a business of mortgage origination in breach of his obligations to the Plaintiffs.']

Ratio Decidendi

The profit obtained by the Defendant from his relevant conduct is to be calculated as the total commission estimated by the Plaintiffs' expert in his first report ($250,000), less actual expenses substantiated in the Defendant's expert report ($11,235), resulting in a net profit of $238,765. The methodology must provide a reasonable approximation in the absence of mathematical exactness, and only substantiated actual expenses were allowed as deduction from profit.

Court Disposition

Orders made for payment of profits and costs.

Orders

  • ['Upon enquiry, I find that the amount of profits obtained by the Defendant from his conduct in engaging in employment or any other contractual relationship with an organisation known as The Mortgage Professionals, whereby he conducted, solicited or otherwise promoted a business of mortgage origination was...