Porter, Colin v Audio Visual Promotions Pty Ltd & ors [1984] FCA 136

CATCHWORDS,

Trade Practices - misleading and deceptive conduct by company - funancial structure of the company - cnanges in its financial structure - representations made relating to its financial structure - involvement of directors in contravention of Trade Practices Act pursuant to s.75B thereof - awareness of essential elements - positive sceps - loss cr

damage suffered.

COLIN PORTER v. AUDIO VISUAL PROMOTIONS PRY. LTD, & ORS.

Trade Practices Act 1974 - 55.52, 53B, 53(2), 75B, 87(1A)

Companies Act 1981 (Vic.) - 58.129, 371(2) VG 104 of 1982

Smithers J. 25 May 1984

Melbourne.

IN THE FEDERAL COURT OF AUSTRALTA

VICTORIA DISTRICT REGISTRY VG NO. 104 OF 1982

GENERAL DIVISION

Between: COLIN PORTER

(Applicant)

And: AUDIO VISUAL PROMOTTONS PTY. LTD. (incorporated in New South Wales) and AUDIO VISUAL PROMOTIONS PTY. LID. (ancorporated in Victoria) and DONALD TAYLOR and Ld. FINNEGAN

(Respondents)

Judge Making Order: Smithers J.

Date of Order: 25 May 1984 Where Made: Melbourne. ORDER

Upon an undertaking by the applicant through his counsel that, upon payment of the sum of $20,000 to him pursuant to this judgment, he hold any interest he has in shares in the first respondent on trust for the respondent or respondents who pay such a sum, or in the event of payment of only part of such sum, to hold the same in favour of the respondent or

respondéents paying such part to the extent of the payment made

by such respondent or respondents the Court orders:

Judgment for the applicant for the sum of $20,000 against the third and fourth respondents. Payment of the same or any part thereof by either respondent will operate, as between the respondents and the applicant,

as a discharge pro tanto of both respondents.

That the third and fourth respondents shall pay the

costs of, and incidental to the applicant's application.