1 Jun 2006
AMALTAL CORP LTD V MARUHA CORP AND ANOR CA CA232/04
- Citation
- openlaw-0ac3680e_21cc_4da3_9087_ed004652f6ea.pdf
- Court
- Court of Appeal
The Court of Appeal upheld liability in deceit: Amaltal made material representations about tax treatment which it knew to be false and which induced Maruha to make payments under the profit guarantee; the claim was not statute-barred because Maruha could not with reasonable diligence have discovered the fraud earlier; damages were awarded for actual overpayments but reduced to account for a quantifiable benefit to Maruha on dissolution, producing substituted judgment of $4,920,446.00.