Ingot Capital Investments Pty Ltd & Ors v Macquarie Equity Capital Markets Ltd & Ors [2008] NSWCA 206

New South Wales Court of Appeal

CITATION: Ingot Capital Investments Pty Ltd & Ors v Macquarie Equity Capital Markets Ltd & Ors [2008] NSWCA 206

HEARING DATE(S): 4 August 2008 - 29 August, 5 September 2008

JUDGMENT DATE: 3 December 2008

JUDGMENT OF: Giles JA at 1; Hodgson JA at 52; Ipp JA at 84

(a) The appeal against Mr Daya succeeds. (b) The orders made by the trial judge in respect of the claims against Mr Daya by ICI, AOITL, ASC, AOITP and ESS are set aside. (c) Mr Daya is ordered to pay damages to ICI of $1,581,172.80. (d) Mr Daya is ordered to pay damages to AOITL of $6,177,561. (e) Mr Daya is ordered to pay damages to ASC of $6,500,000. DECISION: (f) Mr Daya is ordered to pay damages to AOITP of $7,540,000. (g) Mr Daya is ordered to pay damages to ESS of $15,964,927.05. (h) The appeals are otherwise dismissed. (i) Leave is granted to the appellants to amend the notice of appeal so as to enable them to rely on the representations in paragraphs 104(a) and (e) of 6FAS. (J) The parties have liberty to apply for any other orders that need to be made in accordance with these reasons. (k) The parties are directed to arrange a date with the registrar for a directions hearing relating to the further disposition of the remaining matters to be resolved in the appeal (including, but not necessarily limited to, costs, interest on the damages awarded, any orders made by McDougall J that should be set aside in accordance with these reasons, and any further orders that need to be made). Thereafter a date will be allocated for the hearing of outstanding matters.