Recent Cases

Xiao v BCEG International (Australia) Pty Ltd [2023] NSWCA 48 (23 March 2023) (Gleeson and Mitchelmore JJA, Griffiths AJA)


Catchwords:


EQUITY — Equitable remedies — Whether claimant entitled to make “split election” seeking different remedies against different wrongdoers (defaulting fiduciary and accessories) — Where directors dissipated company’s monies — Where knowing receipt by corporate accessories — Whether knowing recipients liable for an account of profits and fiduciaries liable for equitable compensation

EQUITY — Fiduciary duties — Breach — Causation — Whether positive fiduciary duty to obtain informed consent to conflict of interest and duty — Whether failure to disclose to company the dissipation of company’s monies was causative of later losses on subsequent transaction

APPEALS — Procedural fairness — Whether appellants denied procedural fairness — Where primary judge assessed account of profits at trial rather than in post-judgment inquiry — Where appellants on notice of the claim for profits and claimant’s evidence — Where appellants did not file any responsive evidence