Keller v Daisley

The appeal in CA271/2020 was allowed, the award of damages/equitable compensation to Mr Daisley was set aside, and the cross-appeal in CA271/2020 was dismissed. The Kellers were entitled to costs in respect of the appeal and cross-appeal. The appeal in CA30/2021 was allowed in part, the damages awarded were increased by $577.50, and the appeal was otherwise dismissed. The appellants were to pay the respondents 90 per cent of the costs for a standard appeal on a band A basis, with usual disbursements. The appeal in CA31/2021 was dismissed. The appellants were to pay the respondent costs for a standard appeal on a band A basis, with usual disbursements.

The Court found that the failure to issue shares in Ark was not pleaded in the main proceedings, and thus was not properly before the Court. The Judge's award of equitable compensation/damages for failure to issue shares was therefore set aside. The Court also found that the Kellers had breached a fiduciary duty owed to Mr Daisley by failing to issue shares in Ark, but that this was adequately pleaded. The Court found that the Kellers had breached a fiduciary duty owed to Mr Daisley by failing to issue shares in Ark, and awarded equitable compensation/damages of $541,721 against the Kellers and Ark. The Court rejected Mr Daisley's claim for interest on the equitable compensation/damages on the basis that interest had not been pleaded.

The Court found that the appeal in CA31/2021 was dismissed, and that the appellants were to pay the respondent costs for a standard appeal on a band A basis, with usual disbursements. The Court found that the appeal in CA30/2021 was allowed in part, and that the damages awarded were increased by $577.50. The Court found that the appeal was otherwise dismissed, and that the appellants were to pay the respondents 90 per cent of the costs for a standard appeal on a band A basis, with usual disbursements.