Australian Competition and Consumer Commission v Oceana Commercial Pty Ltd [2004] FCAFC 174

FEDERAL COURT OF AUSTRALIA

Australian Competition and Consumer Commission v Oceana Commercial Pty Ltd [2004] FCAFC 174 TRADE PRACTICES (CTH) – misleading and deceptive conduct – system of marketing used to sell residential units on Gold Coast – whether misrepresentation as to market value of units – bank lending to purchasers of units – whether purchasers in position of special disadvantage – whether Bank guilty of unconscionable conduct – declarations of misleading and deceptive conduct made by primary judge – injunctions refused – whether error in exercise of discretion TRADE PRACTICES (QLD) – misleading conduct in connection with marketing residential units on Gold Coast – Australian Competition and Consumer Commission – power of Commission to bring proceedings under State Fair Trading Act – standing VALUATION – residential units – market value at given date – valuation relying on sales four or more years later and ignoring contemporaneous sales – whether valid basis of valuation at given date – whether distinction between "market value" and "market price" valid COSTS – indemnity costs – unsuccessful appeal – whether appellant had no prospect of success Acts Interpretation Act 1901 (Cth) s 22 Administrative Appeals Tribunal Act 1975 (Cth) Corporations Act 2001 (Cth) ss 9, 57A, 124 Crimes Act 1914 (Cth) ss 4H, 13 Federal Court Act 1976 (Cth) s 21 Trade Practices Act 1974 (Cth) ss 2, 6A, 28, 51AA, 51AC, 52, 77, 80, 87, 87CA, 163 163A Constitution s 51 (xx) Fair Trading Act 1989 (Qld) ss 6, 38, 39, 92, 98, 99, 100, 103 Property Agents and Motor Dealers Act 2000 (Qld) ss 572B, 572C, 572D, 573A

Ainsworth v Criminal Justice Commission (1992) 175 CLR 564 considered Alphafarm Pty Ltd v SmithKline Beecham Australia Pty Ltd (1994) 49 FCR 250 considered Australian Apple and Pear Marketing Board v Tonking (1942) 66 CLR 77 cited Australian Competition and Consumer Commission v Samton Holdings Pty Ltd (2002) 117 FCR 310 applied Australian Conservation Foundation Incorporated v The Commonwealth (1980) 146 CLR 493 applied Bateman's Bay Local Aboriginal Land Council v The Aboriginal Community Benefit Fund Pty Ltd (1998) 194 CLR 247 considered Botany Municipal Council v Secretary, Department of the Arts, Sport, the Environment, Tourism and Territories (1992) 34 FCR 412 cited Colgate‑Palmolive Company v Cussons Pty Ltd (1993) 46 FCR 225 cited Commercial Bank of Australia Ltd v Amadio (1983) 151 CLR 447 applied Commissioner of Taxation v Executors of Rubin (1930) 44 CLR 132 applied De Alwis v Minister for Immigration and Multicultural and Indigenous Affairs [2004] FCAFC 77 cited Forster v Jododex Australia Pty Ltd (1972) 127 CLR 421 considered Fountain Selected Meats (Sales) Pty Ltd v National Produce Merchants Limited (1988) 81 ALR 397 cited House v The King (1936) 55 CLR 499 cited Qantas Airways Ltd v Dillingham Corporation (unreported, Supreme Court of New South Wales, 14 May 1987) cited Re The Honey Pool of Western Australian (No 2) (1988) 14 ACLR 621 referred to Shop Distributive and Allied Employees Association v Minister for Industrial Affairs of the State of South Australia (1995) 183 CLR 552 referred to Spencer v The Commonwealth (1907) 5 CLR 418 applied Tisdall v Health Insurance Commission [2003] FCAFC 198 cited Tobacco Institute of Australia Ltd v Australian Federation of Consumer Organisations Inc (1988) 19 FCR 469 considered Truth About Motorways Pty Ltd v Macquarie Infrastructure Investment Management Ltd (2000) 200 CLR 591 considered