Kosho Pty Ltd and Anor v Trilogy Funds Management Ltd, Trilogy Funds Management Ltd and Ors v Fujino (No 2)

Kosho Pty Ltd and Anor v Trilogy Funds Management Ltd and Trilogy Funds Management Ltd and Ors v Fujino (No 2) involved disputes concerning alleged breaches of contract and fiduciary duties. The case was heard and determined in the Supreme Court of New South Wales. The plaintiffs sought to establish breaches of contract and fiduciary duties by the defendants, as well as damages for those breaches. The court was tasked with deciding whether the plaintiffs were entitled to any damages, and if so, in what amount. Additionally, the court needed to consider the appropriate allocation of costs given the partial success of the plaintiffs.

The court found that the plaintiffs had succeeded in establishing a breach of an implied term in the contract, but had failed to prove that they had suffered any loss as a result. The court awarded nominal damages of $10 to the plaintiffs. The court considered the principle that costs generally follow the event, but noted that the plaintiffs' partial success did not warrant an award of costs against them. The court ordered that the plaintiffs pay a portion of the defendants' costs, reflecting the limited success of the plaintiffs' claims.

The court concluded that the plaintiffs were entitled to nominal damages for the breach of contract, but no further compensation. The court also determined that the plaintiffs should pay a portion of the defendants' costs, reflecting the limited success of the plaintiffs' claims. This decision underscores the importance of the principle that costs generally follow the event, but also recognises that exceptions may be warranted in cases of partial success. The court's ruling balanced the need to compensate the plaintiffs for their proven loss, while also ensuring that the defendants were not unfairly burdened with excessive costs.