6 Aug 2018
PANGANI PROPERTIES LTD v LLOYD [2018] NZHC 1982
- Citation
- [2018] NZHC 1982
- Court
- High Court
The Court held the agents breached fiduciary duties by failing to disclose NZ Post's interest and by acting for conflicting interests; the commission on PPL's sale to Zambora ($63,150 net) must be restored; PPL is entitled to equitable compensation for the lost chance of securing NZ Post (assessed at $650,000) and for costs incurred pursuing the CAC complaint (assessed at $100,000); later commissions were not disgorged because PPL elected loss-based relief and remedies were inconsistent; interest and costs directions reserved.