Quikfund (Australia) Pty Ltd v Prosperity Group International Pty Limited (In Liq) [2013] FCAFC 5

FEDERAL COURT OF AUSTRALIA

Quikfund (Australia) Pty Ltd v Prosperity Group International Pty Limited (In Liq) [2013] FCAFC 5 Citation: Quikfund (Australia) Pty Ltd v Prosperity Group International Pty Limited (In Liq) [2013] FCAFC 5

Appeal from: Prosperity Group International Pty Ltd v Queensland Communication Company Pty Ltd (No 3) [2011] FCA 1122

Parties: QUIKFUND (AUSTRALIA) PTY LTD (ACN 116 768 711), AUSTRALIAN EQUIPMENT RENTALS PTY LTD (ACN 126 049 376) and CT 129 PTY LIMITED (FORMERLY CLEAR TELECOMS (AUST) PTY LIMITED) (IN LIQUIDATION) (ACN 129 296 573) v PROSPERITY GROUP INTERNATIONAL PTY LIMITED (IN LIQUIDATION) (ACN 110 539 636) and WORLDNET CORPORATION INTERNATIONAL PTY LIMITED (IN LIQUIDATION) (ACN 113 910 124)

File number: QUD 379 of 2011

Judges: FOSTER, BARKER AND GRIFFITHS JJ

Date of judgment: 31 January 2013

Catchwords: AGENCY – whether a corporation which facilitated the making of a contract for telecommunications services and which supplied various items of office equipment acted in relation to those transactions as the agent of the credit providers which provided credit to the end consumer which acquired those services and that equipment by way of lease finance CONSUMER LAW – whether corporations which provided credit by way of lease finance to an end consumer in respect of the acquisition of goods and services by that consumer are liable pursuant to s 12DA of the Australian Securities and Investments Commission Act 2001 (Cth) for the misleading and deceptive conduct engaged in by an employee of the corporation which facilitated the supply of the particular services and which supplied the particular goods – whether a corporation which provided credit by way of lease finance to an end consumer of goods and services in the period 2007–2010 was a linked credit provider within the meaning of s 73 of the Trade Practices Act 1974 (Cth) – whether the provision of lease finance was, in the period 2007–1010, a financial service within the meaning of s 51AF(1) of the Trade Practices Act – whether, having regard to the terms of s 51AF(1) of the Trade Practices Act, s 73(1) of that Act could be engaged at all in relation to the supply or acquisition of a financial service within the meaning of s 51AF(1) TRADE AND COMMERCE – whether corporations which provided credit by way of lease finance to an end consumer in respect of the acquisition of goods and services by that consumer are liable pursuant to s 12DA of the Australian Securities and Investments Commission Act 2001 (Cth) for the misleading and deceptive conduct engaged in by an employee of the corporation which facilitated the supply of the particular services and which supplied the particular goods – whether a corporation which provided credit by way of lease finance to an end consumer of goods and services in the period 2007–2010 was a linked credit provider within the meaning of s 73 of the Trade Practices Act 1974 (Cth) – whether the provision of lease finance was, in the period 2007–1010, a financial service within the meaning of s 51AF(1) of the Trade Practices Act – whether, having regard to the terms of s 51AF(1) of the Trade Practices Act, s 73(1) of that Act could be engaged at all in relation to the supply or acquisition of a financial service within the meaning of s 51AF(1)