Chowder Bay Pty Ltd v Paganin [2018] FCAFC 25

FEDERAL COURT OF AUSTRALIA

Chowder Bay Pty Ltd v Paganin [2018] FCAFC 25 Appeal from: Chowder Bay Pty Ltd v Paganin [2017] FCA 332

File number: WAD 184 of 2017

Judges: BESANKO, MARKOVIC, LEE JJ

Date of judgment: 26 February 2018

Catchwords: CONSUMER LAW – whether the primary judge erred in rejecting a claim that the respondents engaged in misleading or deceptive conduct under s 52 of the Trade Practices Act 1974 (Cth) – where appellants invested in a joint venture financed by a loan facility – whether valuations prepared by the third and fourth respondents for the bank providing the facility were misleading or deceptive on the basis pleaded CONSUMER LAW – whether the primary judge erred in finding that the appellants did not suffer loss or damage pursuant to s 82 of the Trade Practice Act 1974 (Cth) – contention as to whether appellants would have been entitled to recover a proportion of legal costs incurred in related proceedings as found by the primary judge EVIDENCE – whether the primary judge erred in finding that there was a failure by the appellants to prove that the bank relied on representations made as to value contained in valuations – where no bank witnesses were called in the appellants' case but business records were tendered without objection and subject to no limitation

Legislation: Australian Securities and Investments Commission Act 2001 (Cth), s 12DA Corporations Act 2001 (Cth), s 1041H Evidence Act 1995 (Cth), ss 55, 59, 69, 135, 136, 140(1), 167, 169(1) Trade Practices Act 1974 (Cth), ss 52, 75B Fair Trading Act 1987 (WA), s 10(1)