Torchia v Swanton (No. 2)

In the case of Torchia v Swanton (No. 2), the applicants sought compensation for a loss of opportunity to invest in a business. The dispute was determined in the Supreme Court of New South Wales. The applicants claimed damages for a lost investment opportunity in a business known as the "Laughing Buddha", which was owned by the respondents. The applicants argued that the respondents had unlawfully interfered with their opportunity to invest in the business, leading to a quantifiable financial loss.

The primary legal issues for the court to resolve were whether the applicants had indeed suffered a loss of opportunity and, if so, how that loss should be quantified. The court needed to determine the appropriate method for valuing the business and assessing the financial loss resulting from the alleged interference. The applicants proposed a business valuation approach, while the respondents argued against this method, contending that the loss was either not ascertainable or significantly lower than claimed.

The court found that the applicants had indeed suffered a loss of opportunity due to the respondents' actions. The court determined that the appropriate method for quantifying the loss was through a business valuation approach. The court rejected the respondents' contentions and assessed the business value at the figure proposed by the applicants. The court held that the respondents were liable for the loss of opportunity and ordered them to compensate the applicants accordingly. The court quantified the loss at $92,650 and made no order regarding costs.