Teaminvest Private Group (ASX:TIP) said an appeal court ordered a limited retrial over certain matters and set aside a damage order in an appeal brought by Netdeen against an earlier court judgment regarding legal proceedings brought by Colour Capital, a unit of Teaminvest, according to a Friday Australian bourse filing.
In the earlier court judgement, Netdeen had been ordered to pay Colour Capital damages of AU$20 million.
The appeal also upheld various elements of the earlier judgment.
Netdeen is the franchisor of the G.J. Gardner Homes franchise.