Read the full judgment text of HCA 1434/2004 on BabelCite. This High Court CFI judgment was delivered on 23 September 2005.
1. In two contracts dated 6 December 2002 (the 1 st contract) and 29 May 2003 (the 2 nd contract) the plaintiff purchased from the defendant shares in a private company which effectively gave him a 10% interest in a company called Integral Mortgage Corporation Pty Limited (IMC), an Australian incorporated company whose directors had aspirations of a listing on the Hong Kong Stock Exchange Board. The plaintiff paid a total of $3,950,000 for the shares. Thereafter in a series of advances paid to