Read the full judgment text of CACV 000093/1998 on BabelCite. This Court of Appeal judgment was delivered on 16 July 1998.
1. Private placements were due to be floated in October 1997. The plaintiff had an opportunity of acquiring shares in these private placements. The defendant, a Cayman Islands Company, was brought in as financier. Depending on the price at different times, the defendant's funds might be sufficient and the plaintiff would not be called upon to contribute. The venture was not strictly a sale and purchase transaction. In the venture which turned out to be less than successful, the defendant had pai