9 Mar 2012
KIM & CHOI V PARK, LEE & KIM HC AK CIV-2011-404-366
- Citation
- openlaw-ce471ff5_8988_4e84_9ebf_97a02854af50.pdf
- Court
- High Court
Court found an express joint venture existed and that the first defendant breached fiduciary duties by unauthorised withdrawals; equitable compensation available but limited to plaintiffs' own loss because half the account funds belonged to the first defendant, yielding damages of $271,000; plaintiffs successfully traced their proprietary interest into the Helensville property and a constructive trust proportionate to $271,000 (approximately 10%) was imposed and to be vested by order under s 99 LTA; claims against the second defendant for dishonest assistance/knowing receipt were dismissed fo…