Youyang v Minter Ellison [2001] NSWCA 198

New South Wales Court of Appeal

CITATION : Youyang v Minter Ellison [2001] NSWCA 198 FILE NUMBER(S) : CA 40740/00 HEARING DATE(S) : 25 June 2001 JUDGMENT DATE : 8 October 2001

Youyang Pty Limited (As Trustee of Bill Hayward Discretionary Trust) PARTIES : v (The persons listed in Schedule 1 trading as Minter Ellison Morris Fletcher, and later as Minter Ellison) JUDGMENT OF : Handley JA at 1; Hodgson JA at 25; Young CJ in Eq at 44

LOWER COURT JURISDICTION : Supreme Court - Equity Division LOWER COURT ED 50083/99 FILE NUMBER(S) : LOWER COURT Brownie AJ JUDICIAL OFFICER :

COUNSEL : A S Martin SC (Appellant) I M Jackman/T M Faulkner (Respondents) SOLICITORS : Carneys (Appellant) Mallesons Stephen Jaques (Respondents) CATCHWORDS : BREACH OF TRUST - causation - effect of consequential breach - equitable compensation. D. Target Holdings Ltd v Redferns [1996] AC 421 Greater Pacific Investments Pty Ltd v Australian National Industries Ltd (1996) 39 NSWLR 143 O'Halloran v R T Thomas & Family Pty Ltd (1998) 45 NSWLR 262 Beach Petroleum NL v Kennedy (1999) 48 NSWLR 1 Maguire v Makaronis (1997) 188 CLR 449 Smith v Cock [1911] AC 317 Alexander & Ors (trading as Minter Ellison) v Perpetual Trustees WA Ltd & Anor [2001] NSW CA 240 CASES CITED: Scholefield Ltd v Zyngier [1986] AC 562 TCN Channel 9 Pty Limited v Antoniadis [No 2] (1999) 48 NSWLR 381 Medlin v State Government Insurance Corporation (1995) 182 CLR 1 United Australia Ltd v Barclays Bank Ltd [1941] AC 1 McKenzie v McDonald [1927] VLR 134 Timber Engineering Co Pty Ltd v Anderson [1980] 2 NSWLR 488 Mense v Milenkovic [1973] VR 784 Green v Weatherill [1929] 2 Ch 213 Canson Enterprises Ltd v Boughton & Co (1991) 85 DLR (4th) 129 DECISION : Appeal dismissed with costs. Cross-appeal allowed in part. Orders made