Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Lifeplan Australia Friendly Society Ltd v Ancient Order of Foresters in Victoria Friendly Society Limited [2017] FCAFC 74 Appeal from: Lifeplan Australia Friendly Society Ltd v Woff [2016] FCA 248
File number: SAD 118 of 2016
Judges: ALLSOP CJ, MIDDLETON AND DAVIES JJ
Date of judgment: 12 May 2017
Catchwords: EQUITY – causation in equity – causal connection between knowing assistance in dishonest breaches of fiduciary duty and profits made in the course of business – where profits are accountable because the business that generated them would not have been established without knowingly using information dishonestly gained – where confidential information was used for the supervision and governance of the business EQUITY – account of profits – considerations involved in assessment of account of profits – remedy to fit the nature of the case and account for the true measure of the profit or benefit obtained – account of profits ordered based on net present value of business contracts up to a particular date CORPORATIONS – s 79 of the Corporations Act –principles of statutory accessorial liability – conduct sufficient to form the conclusion that a party is knowingly concerned in breaches of statutory duty – meaning of profits in s 1317H(2) of the Corporations Act
Legislation: Corporations Act 2001 (Cth) ss 9, 79, 180, 181, 182, 183, 1317E, 1317H
Cases cited: Apand Pty Ltd v Kettle Chip Co Pty Ltd (No 2) [1999] FCA 483; 88 FCR 568 Australian Securities and Investments Commission v ActiveSuper Pty Ltd (in liq) [2015] FCA 342; 235 FCR 181 Baden v Société Générale pour Favoriser le Développement du Commerce et de l'Industrie en France SA [1993] 1 WLR 509 Barnes v Addy (1874) LR 9 Ch App 244 Boardman v Phipps [1967] 2 AC 46 Colbeam Palmer Ltd v Stock Affiliates Pty Ltd [1968] HCA 50; 122 CLR 25 Consul Development Pty Ltd v DPC Estates Pty Ltd [1975] HCA 8; 132 CLR 373 Dart Industries Inc v Decor Corporation Pty Ltd [1993] HCA 54; 179 CLR 101 Decor Corporation Pty Ltd v Dart Industries Inc [1991] FCA 844; 33 FCR 397 Farah Constructions Pty Limited v Say-Dee Pty Limited [2007] HCA 22; 230 CLR 89 Giorgianni v The Queen [1985] HCA 29; 156 CLR 473 Gore v Australian Securities and Investments Commission [2017] FCAFC 13 Grimaldi v Chameleon Mining NL (No 2) [2012] FCAFC 6; 200 FCR 296; Hospital Products Limited v United States Surgical Corporation [1984] HCA 64; 156 CLR 41 Howard v Commissioner of Taxation [2014] HCA 21; 253 CLR 83 Lifeplan Australia Friendly Society Ltd v Woff [2016] FCA 248 Macleod v The Queen [2003] HCA 24; 214 CLR 230 Manley v Santori [1927] 1 Ch 157 March v Stramare (E&MH) Pty Ltd [1991] HCA 12; 171 CLR 506 Meinhard v Salmon 249 NY 458 (1928) Michael Wilson & Partners Ltd v Nicholls [2011] HCA 48; 244 CLR 427 Novoship (UK) Ltd v Mikhaylyuk [2014] EWCA Civ 908; [2015] QB 499 Pereira v Director of Public Prosecutions [1988] HCA 57; 82 ALR 217 Peters v The Queen [1998] HCA 7; 192 CLR 493 Resurfice Corp v Hanke 2007 SCC 7; [2007] 1 SCR 333 Timber Engineering Co Pty Ltd v Anderson [1980] 2 NSWLR 488 V-Flow Pty Ltd v Holyoake Industries (Vic) Pty Ltd [2013] FCAFC 16; 296 ALR 418 Yorke v Lucas [1985] HCA 65; 158 CLR 661 Youyang Pty Ltd v Minter Ellison Morris Fletcher [2003] HCA 15; 212 CLR 484 Warman International Ltd v Dwyer [1995] HCA 18; 182 CLR 544 Gummow, W 'Dishonest Assistance and Account of Profits' (2015) 74(3) Cambridge Law Journal 405-409
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