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Summary trial over yacht-sale funds: the court awarded US$17,500 for misappropriation, but sent the disputed US$8,000 deposit issue to trial.
The Court of Appeal upheld the trial judge's findings that Park Stud repudiated the August 2003 agreement by failing to report and pay stud fees and by ceasing advertising (an implied contractual obligation), and that stallion award monies were not included in 'revenue from stud fees' and therefore belonged to Terra; however, the court set aside the trial judge's orders against Michael Byrne personally because there was no finding of fraudulent or improper purpose required to pierce the corporate veil, and allowed the appeal only in respect of Byrne's personal liability while affirming the or…
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The court held the Hoppeners personally liable for breach of a representation agreement over consigned artworks, awarded damages, and allowed return of the paintings.
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