Brimaud, Kenneth Maurice v Boston Securities Entertainment Investments Pty Ltd & Ors [1998] FCA 1393

Brimaud, Kenneth Maurice v Boston Securities Entertainment Investments Pty Ltd & Ors [1998] FCA 1393

Damages are assessed based on the market price of shares in Cinema Plus at $1.62 per share as at the date of judgment because this value represents the position the applicant would have been in had performance of the agreement occurred.

Jurisdiction
Australia
Judgment Date
16 October 1998
Procedural Posture
Civil / Judgment
Outcome
Judgment for Applicant against First and Second Respondents; proceedings against Third Respondent dismissed
Legal Topics
['damages' 'share Valuation' 'loss of Shares']
['commercial Law'] ['damages' 'share Valuation' 'loss of Shares']

Case Brief

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Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 ['Assessment of damages for loss of shares' 'Appropriate measure of damages in falling market' 'Valuation date for damages']

Ratio Decidendi

Damages are assessed based on the market price of shares in Cinema Plus at $1.62 per share as at the date of judgment because this value represents the position the applicant would have been in had performance of the agreement occurred.

Court Disposition

Judgment for Applicant against First and Second Respondents; proceedings against Third Respondent dismissed

Orders

  • ['Judgment entered for Applicant against First and Second Respondents in the sum of $690,339.80' 'Proceedings against Third Respondent dismissed with no order as to costs' "First and Second Respondents pay 15% of Applicant's costs of the proceedings as agreed or assessed" 'Conditional stay on balance of judgment...