Cassis & Anor. v. Kalfus (No.2) [2004] NSWCA 315

New South Wales Court of Appeal

CITATION : Cassis & Anor. v. Kalfus (No.2) [2004] NSWCA 315 HEARING DATE(S) : 25 and 26 March 2004 JUDGMENT DATE : 20 September 2004

JUDGMENT OF : Handley JA at 1; Giles JA at 2; Hodgson JA at 42 DECISION : 1. Appeal allowed. 2. Orders below in relation to Mr. Cassis set aside. 3. In lieu thereof, verdict and judgment for Mr. Cassis against Mr. Kalfus in the sum of $385,649.00, to take effect as at this date. 4. Mr. Kalfus to pay one-half the costs of Mr. Cassis of so much of the proceedings, including the first trial, as was referable to his claim. 5. Mr. Kalfus to pay the costs of Mr. Cassis of the appeal, and to have a certificate under the Suitors Fund Act if otherwise entitled.

CATCHWORDS : PROCEDURE - Appeal - Issues not decided by primary judge, to some extent dependent on credibility - Whether appropriate for appeal court to decide - Relevant considerations - DAMAGES - Loss caused by breach of fiduciary duty - Equitable compensation - Loss due to realisation of risk knowingly undertaken by plaintiff and not significantly affected by the breach of duty - Whether defendant liable in whole or in part. Beach Petroleum NL v. Kennedy (1999) 48 NSWLR 1 Brickenden v. London Loan & Savings Co. [1934] 3 DLR 465 Cackett v. Keswick [1902] 2 Ch. 456 Cassis v. Kalfus [2001] NSWCA 460 Henville v. Walker (2001) 206 CLR 459 CASES CITED : Kolavo v. Pitsikas [2003] NSWCA 59 Nocton v. Lord Ashburton [1914] AC 932 Pateman v. Higgin (1957) 97 CLR 521 Quinn v. Rocla Concrete Pipes Ltd. (1986) 6 NSWLR 586 United Dominion Corporation Ltd. v. Brian Pty. Ltd. (1984) 157 CLR 1 Youyang Pty. Ltd. v. Minter Ellison (2003) 77 ALJR 895 PARTIES : Sami Alfred Cassis and Gisele Cassis - appellants Marcel Isador Kalfus - respondent FILE NUMBER(S) : CA 40715/03 COUNSEL : Mr. P. Roberts SC with Mr. M.K. Minehan for appellants Mr. G. Lindsay SC with Mr. A. Ridley for respondent SOLICITORS : Levitt Robinson for appellants Mallesons Stephen Jaques for respondents