11 Apr 2008
PREMIUM REAL ESTATE LTD V MARK MONCRIEFF STEVENS, DEBORAH RUTH STEVENS AND MELVA BEATRICE WALKER (AS TRUSTEES) CA CA31/07
- Citation
- openlaw-32e61a91_549a_4021_aebe_e18703098b00.pdf
- Court
- Court of Appeal
Premium breached s9 FTA by partially disclosing and omitting material information about the purchaser and breached fiduciary duty by failing to disclose its ongoing commercial relationship with the purchaser; however, the appropriate remedy was compensatory damages measured as the difference between the actual sale price and the price the vendors would otherwise have accepted ($2.8m), not disgorgement of the purchaser's resale profit; damages awarded $225,000 plus interest.