Victorian Reports - Authoritative Law Reports Since 1870

COONWARRA PTY LTD v CORNONERO PTY LTD and Others

|Nichols J

77 VR 72

COONWARRA PTY LTD v CORNONERO PTY LTD and Others Supreme Court of VictoriaNichols J 23 October, 18 December 2024[2024] VSC 789Equity — Breach of fiduciary duty — Remedies — Equitable compensation — Causation — Procurement of breach — Fiduciary and procurers caused money to be borrowed and disbursed in breach of duty — Measure of loss — Connection between breach and loss — Whether loss would have been incurred had breach not been procured — Liability to compensate — Whether procurers and fiduciary jointly and severally liable to compensate.

Coonwarra succeeded in a proceeding in establishing that CornoNero breached its fiduciary duty owed to it in respect of two loans which Coonwarra had borrowed from BCP. Coonwarra also established that A procured the breaches of duty in respect of one of the loans and B procured the breaches of duty in relation to the other.

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77 VR 72

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