Ramsay v BigTinCan Pty Ltd

In *Ramsay v BigTinCan Pty Ltd*, the appellants, Ramsay and another party, appealed a decision concerning alleged breaches of fiduciary duty and dishonest assistance. The dispute arose from allegations that a company director formulated and implemented a plan to divert funding and business opportunities to a new company, and that the second appellant knowingly assisted in this dishonest and fraudulent design. The central question was whether there was a causal connection between these alleged breaches of fiduciary duty and the company's failure to obtain funding, and whether the loss of this opportunity constituted a substantial financial loss.

The court was required to determine whether the failure to obtain funding was causally related to financial loss, and specifically, whether such loss would only be established if the funding would have been put to profitable use. Furthermore, the court had to consider the assessment of equitable compensation in circumstances where the plaintiff could not adduce precise evidence of the loss suffered.

The court reasoned that a failure to obtain funding would only causally relate to financial loss if the funding would have been put to profitable use. The assessment of equitable compensation in cases where precise evidence of loss is unavailable requires careful consideration of the available evidence to establish the loss. Ultimately, the appeal was dismissed with costs.