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Mark Moncrieff Stevens and others v Premium Real Estate Limited - SC 23/2008

Media releases

Summary

Civil Appeal – Breach of fiduciary duty and Fair Trading Act 1986 – Damages – Advertising and sale of residential property where absence full disclosure by agent to principal of close, ongoing commercial relationship with purchaser – Whether Court of Appeal erred in quantification of damages assessment, including whether correct measure of loss includes profit made by third party (rather than fiduciary) as result of breach of fiduciary duty.[2008] NZCA 82 CA 31/07 11 April 2008

Result

Leave to appeal and cross appeal granted.
29 July 2008
________________________
The appellants’ appeal is allowed.The respondent’s appeal is dismissed.  The respondent is ordered to pay the appellants damages of $659,813 and to repay to them the commission of $67,050. The judgment sums will bear interest at 7% per annum from 16 July 2004 (the date of settlement).The appellants are awarded costs in this Court of $15,000 and costs in the Court of Appeal of $6,000, together in each case with their reasonable disbursements as fixed by the respective Registrars if not otherwise agreed between the parties.
6 March 2009

Hearing Transcripts

Related Documents

Leave judgment - leave granted — STEVENS AND ORS V PREMIUM REAL ESTATE LIMITED SC 23/2008 [29 July 2008] (PDF 13 KB)

Substantive judgment — STEVENS AND OTHERS v PREMIUM REAL ESTATE LTD SC 23/2008 [6 March 2009] (PDF 198 KB)

Recall judgment — STEVENS AND OTHERS v PREMIUM REAL ESTATE LTD SC 23/2008 [3 April 2009] (PDF 15 KB)