6 Mar 2009
STEVENS AND OTHERS V PREMIUM REAL ESTATE LTD SC 23/2008
- Citation
- STEVENS AND OTHERS V PREMIUM REAL ESTATE LTD SC 23/2008
- Court
- Supreme Court
The Supreme Court held Premium breached fiduciary duty and engaged in misleading and deceptive conduct by providing misleading and incomplete information that concealed the purchaser's status as a trader and a conflict of interest; appellants proved loss caused by that breach measured by the lost opportunity to achieve a higher price (best evidence being vendors' untainted willingness to sell at $2.8m), and were entitled to compensatory damages net of commission plus repayment of commission as restorative relief; disgorgement of purchaser's profit was not available against Premium.