Radferry Pty Ltd v Starborne Holdings Pty Ltd

Radferry Pty Ltd sought to recover a debt against Starborne Holdings Pty Ltd in the Supreme Court of New South Wales. The case arose from a dispute over the purchase of shares in a company, with Radferry alleging that Starborne had breached a contract by failing to complete the sale. The matter was appealed to the Court of Appeal, which was required to determine the liability of the parties and the extent of any damages owed.

The court examined the terms of the agreement between the parties and considered whether there had been a breach of contract. It also assessed the appropriate measure of damages, taking into account the terms of the contract and any relevant statutory provisions. The court found that there had been a breach of contract by Starborne, but that the damages claimed by Radferry were excessive.

The court allowed the appeal in part and the cross-appeal in part, setting aside the original orders and substituting new ones. It ordered that Starborne pay Radferry $90,000 plus interest, and that the first respondent pay a further $257,000 plus interest, but with a cap on the total amount recoverable. The court also ordered that the parties bear their own costs of the appeal and cross-appeal.

In summary, the Court of Appeal found that Starborne had breached the contract with Radferry, but that the damages claimed were excessive. It set aside the original orders and substituted new ones, ordering that Starborne pay a reduced amount to Radferry and that the parties bear their own costs.