6 Dec 2006
STEVENS & ANOR V PREMIUM REAL ESTATE LTD HC AK CIV-2005-404-2667
- Citation
- openlaw-241817d1_3584_469c_863b_8cc4a18be3a7.pdf
- Court
- High Court
Court found market value of 23D Beach Road in April 2004 was $3.25m; Premium's valuation, marketing and negotiation conduct did not breach s9 or amount to negligence/contractual breach, but Ms Riley's silence about her close commercial relationship with purchaser Mr Larsen constituted misleading and deceptive conduct under s9 and a breach of fiduciary duty; causation and contribution were apportioned, awarding $337,500 under the FTA (50% reduction for causation) and equitable damages of $675,000 plus disgorgement of $67,050 commission for fiduciary breach, with interest and costs.