Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
De Bortoli Wines Pty Ltd v HIH Insurance Limited (in liq) [2012] FCAFC 28 Citation: De Bortoli Wines Pty Ltd v HIH Insurance Limited (in liq) [2012] FCAFC 28
Appeal from: De Bortoli Wines Pty Ltd v HIH Insurance Limited (in liq) [2011] FCA 645
Parties: DE BORTOLI WINES PTY LIMITED (ACN 000 146 672) v HIH INSURANCE LIMITED (IN LIQUIDATION) (ACN 008 636 575), ANTHONY GREGORY MCGRATH IN HIS CAPACITY AS LIQUIDATOR OF HIH INSURANCE LIMITED (IN LIQUIDATION) (ACN 008 636 575) and CHRISTOPHER JOHN HONEY IN HIS CAPACITY AS LIQUIDATOR OF HIH INSURANCE LIMITED (IN LIQUIDATION) (ACN 008 636 575)
File number: NSD 1064 of 2011
Judges: JACOBSON, SIOPIS & NICHOLAS JJ
Date of judgment: 15 March 2012
Catchwords: TRADE PRACTICES – appellant claims to have suffered loss following multiple purchases of shares in reliance on misleading and deceptive conduct in breach of s 52 of the Trade Practices Act 1974 (Cth) – whether the primary judge erred in finding that appellant did not rely on the representations made – questions of reliance are be considered in light of the circumstances surrounding each purchase – primary judge did not err in finding that appellant relied on own judgment and experience in making each purchase – no error in primary judge's finding that reliance not established – appeal dismissed
Legislation: Trade Practices Act 1974 (Cth), ss 52 and 82
Cases cited: Cilag Pty Limited v Pfizer Pty Limited (1992) 37 FCR 526 Como Investments Pty Limited (in liq) v Yendal Nominees Pty Limited (1997) 19 ATPR 43,617 Gould v Vaggelas (1985) 157 CLR 215 Henville v Walker (2001) 206 CLR 459 Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd (2008) 73 NSWLR 653 Janssen-Cilag Pty Limited v Pfizer Pty Limited (1992) 37 FCR 526 MGICA (1992) Limited v Kenny and Good Pty Ltd (1996) 140 ALR 313 Smith v Chadwick (1884) 9 App Cas 187 Sons of Gwalia Ltd v Margaretic (2007) 231 CLR 160 Wardley Australia Ltd v Western Australia (1992) 175 CLR 514
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