Court finds loss-making opportunity does not preclude awardof substantial damages

IN BRIEF - PRINCIPAL PROPERTIES SUCCESSFUL ON APPEAL

In Principal Properties Pty Ltd v Brisbane Broncos Leagues Club Ltd [2017] QCA 254, the Queensland Court of Appeal considered a contractual claim for damages stemming from the loss of an opportunity to acquire and develop land at a profit, in circumstances where the project was unlikely to have returned a profit.

In this update, we focus on the consideration given by the Court in relation to whether a commercial opportunity that is likely to result in a loss, prevents a claimant from recovering an award of damages. It should, however, be noted that this decision also considered the question of quantum.

PARTIES ENTER INTO CALL OPTION DEED ON LAND OWNED BY BRISBANE BRONCOS