Macquarie Units Pty Ltd v Sunchen Pty Ltd

Macquarie Units Pty Ltd and others (the appellants) appealed to the New South Wales Court of Appeal against a decision of the primary judge. The dispute concerned claims for equitable compensation and common law damages, as well as a claim for rectification of a company's share register. The primary judge had dismissed these claims.

The Court of Appeal was required to determine whether the primary judge had denied the appellants procedural fairness by dismissing their claims for loss without allowing for a separate inquiry into the assessment of equitable compensation and common law damages. Additionally, the Court had to consider whether the defence of laches barred the appellants' claim for rectification of the share register.

The Court of Appeal found that the primary judge had not denied the appellants procedural fairness. The judge had dismissed the claims because the appellants had failed to prove they suffered any loss, which was a necessary element of their causes of action. The Court also held that the defence of laches was applicable and barred the claim for rectification of the share register, as there had been an inordinate delay by the appellants in pursuing this claim, and this delay had prejudiced the respondents.

The Court of Appeal ordered that the time for filing the notice of appeal be extended to 10 December 2021, but ultimately dismissed the appeal. The appellants were ordered to pay the respondents' costs of the appeal.