Quantum Investments (Aust) Pty Ltd & Ors v Zhi Wei Lin trading as Jack Lin (No 2) [2022] NSWSC 1558

Quantum Investments (Aust) Pty Ltd & Ors v Zhi Wei Lin trading as Jack Lin (No 2) [2022] NSWSC 1558

The successful plaintiffs are entitled to judgment for the amounts advanced less repayments received, together with pre-judgment interest, as only amounts actually received by them reduce their recoverable loss; costs follow the event for successful and unsuccessful parties respectively.

Jurisdiction
Australia
Judgment Date
15 November 2022
Procedural Posture
Equity Commercial List / Post Judgment Orders
Outcome
Judgment for the Second, Fourth, Fifth, Sixth, and Ninth Plaintiffs against the Defendant; Statement of Claim dismissed as regards the Third Plaintiff; costs orders accordingly.
Legal Topics
['misleading or Deceptive Conduct' 'quantification of Loss' 'costs Follow the Event']
['consumer Law' 'costs'] ['misleading or Deceptive Conduct' 'quantification of Loss' 'costs Follow the Event']

Case Brief

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Procedural Posture

Equity Commercial List / Post Judgment Orders

Legal Issues

  1. 1 ["Whether and to what extent repayments or receipts should be deducted from the plaintiffs' recoverable loss against the defendant" 'Entitlement of successful plaintiffs to judgment and pre-judgment interest' 'Appropriate orders for costs given outcome for each plaintiff']

Ratio Decidendi

The successful plaintiffs are entitled to judgment for the amounts advanced less repayments received, together with pre-judgment interest, as only amounts actually received by them reduce their recoverable loss; costs follow the event for successful and unsuccessful parties respectively.

Court Disposition

Judgment for the Second, Fourth, Fifth, Sixth, and Ninth Plaintiffs against the Defendant; Statement of Claim dismissed as regards the Third Plaintiff; costs orders accordingly.

Orders

  • ['Judgment for the Second Plaintiff against the Defendant in the sum of $285,300.30.' 'Judgment for the Fourth Plaintiff against the Defendant in the sum of $1,316,233.70.' 'Judgment for the Fifth and Sixth Plaintiffs against the Defendant in the sum of $657,377.82.' 'Judgment for the Ninth Plaintiff against the...