25 Nov 2009
LESTER AND ORS V GREENSTONE BARCLAY TRUSTEES LIMITED AS TRUSTEE FOR THE GREENSTONE BARCLAY TRUST AND ORS HC AK CIV-2008-404-005159
- Citation
- openlaw-57acf259_fb39_470e_89d3_a3aca9aa822b.pdf
- Court
- High Court
Lyell and nominated Blue Chip sales agents were agents of Greenstone Barclay solely for marketing and selling the apartments; representations about Blue Chip products were made outside that limited agency scope and therefore Greenstone Barclay is not liable for them under misrepresentation or the Fair Trading Act; the various Blue Chip investment products either fall within the s5(1)(b) exemption to the Securities Act or are not securities, and even if illegal the sale agreements are not tainted because they were not entered into for the purpose of assisting the illegality nor was Greenstone…