CURETON v BLACKSHAW SERVICES PTY LTD AND ORS [2002] NSWCA 187

CURETON v BLACKSHAW SERVICES PTY LTD AND ORS [2002] NSWCA 187

The appeal was dismissed except as to the calculation of compound interest; the trial judge acted within discretion in credit findings and stopping cross-examination, was entitled to prefer Mr Hicks's evidence, and Cureton's withdrawal of funds constituted breach of fiduciary duty. Compound interest should have been calculated at commercial rates with yearly rests, not using Schedule J rates at quarterly rests.

Jurisdiction
Australia
Judgment Date
26 June 2002
Procedural Posture
Civil Appeal / Court of Appeal Decision
Outcome
Appeal allowed in part
Legal Topics
['fiduciary Duties' 'breach of Trust' 'compound Interest' 'credit Findings' 'cross Examination' 'contract of Employment' 'unconscionability']
['equity' 'trusts' 'employment Law' 'evidence'] ['fiduciary Duties' 'breach of Trust' 'compound Interest' 'credit Findings' 'cross Examination' 'contract of Employment' 'unconscionability']

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Procedural Posture

Civil Appeal / Court of Appeal Decision

Legal Issues

  1. 1 ['Whether the trial judge erred in disallowing further cross-examination of Mr Hicks on credit' 'Proper calculation and awarding of compound interest for breaches of fiduciary duty' 'Validity and effect of the Cureton Agreement' 'Authority for withdrawal of superannuation funds' 'Entitlement to loan account withdrawals and personal payments']

Ratio Decidendi

The appeal was dismissed except as to the calculation of compound interest; the trial judge acted within discretion in credit findings and stopping cross-examination, was entitled to prefer Mr Hicks's evidence, and Cureton's withdrawal of funds constituted breach of fiduciary duty. Compound interest should have been calculated at commercial rates with yearly rests, not using Schedule J rates at quarterly rests.

Court Disposition

Appeal allowed in part

Orders

  • ['The appellant to file and serve by 5 July 2002 proposed short minutes of order to reflect these reasons.' 'If not agreed, respondent to file and serve by 10 July 2002 short minutes to reflect judgment.' 'Appeal stood over for mention before Sheller JA at 9:30am on 12 July 2002 for orders disposing of appeal.'...