Garden Estate Hackham Pty Ltd v Angas Securities Ltd

Garden Estate Hackham Pty Ltd (the appellant) appealed to the Full Court of the Supreme Court of South Australia against a decision of a single judge that dismissed its claim for damages against Angas Securities Ltd (the respondent). The dispute concerned the appellant's allegations that the respondent had breached its contractual obligations and engaged in misleading or deceptive conduct in relation to a loan facility provided to the appellant. The appellant sought to recover losses it allegedly suffered as a result of these actions.

The central legal issues before the Full Court were whether the appellant's claim was statute-barred under the *Limitation of Actions Act 1936* (SA) and, if not, whether the respondent had breached its contractual obligations or engaged in misleading or deceptive conduct. Specifically, the court had to determine when the cause of action accrued for the purposes of the limitation period, considering the nature of the alleged breaches and the appellant's knowledge of them.

The Full Court considered the principles governing the accrual of causes of action for breach of contract and misleading or deceptive conduct. It held that the appellant's cause of action accrued at the time of the alleged breaches, irrespective of whether the appellant was aware of the full extent of its loss or the respondent's conduct at that time. The court applied established principles of limitation law, finding that the appellant's claim was indeed out of time. The appeal was therefore dismissed.