Hayle Holdings Pty Ltd v Australian Technology Group Ltd [2000] FCA 1242

FEDERAL COURT OF AUSTRALIA

Hayle Holdings Pty Ltd v Australian Technology Group Ltd [2000] FCA 1242 TRADE PRACTICES – misleading and deceptive conduct – alleged representations during negotiations for, and after completion of, agreement for provision of venture capital – whether, but for the alleged misleading and deceptive conduct, the applicants would not have entered the agreement – whether, but for the alleged misleading and deceptive conduct, the applicants would have gone to the United States in April or November 1995 in search of alternate venture capital – whether the third applicant acted in reliance upon the representations made by the respondent – whether concealment of, or failure to disclose that a condition of the deal had not been withdrawn constitutes misleading and deceptive conduct for the purposes of s 52 DAMAGES – loss of opportunity – damages for loss of a chance - causation – whether, had the applicants gone the United States in November 1995, they could and would have obtained alternate venture capital, and established a successful business in the United States – whether the opportunity to obtain alternative venture capital has been lost, by reason of the respondent's misleading and deceptive conduct DAMAGES – damages for trading losses incurred as a result of the postponement of the decision to close down the Sydney operation Trade Practices Act 1974 (Cth) ss51A, 51A(2), 52 R v Murphy [1985] 4 NSWLR 42 referred to Watson v Foxman (Supreme Court of NSW, McLelland J, 3 August 1995, unreported) applied Christofidellis v Zdrilic [1999] FCA 39 cited Paramedical Services Pty Limited v Ambulance Service of NSW [1999] FCA 548 cited Jaldiver Pty Limited v Nelumbo Pty Limited (1993) ATPR (Digest) 46-097 cited Lam v Ausintel Investments Australia Pty Limited (1989) 97 FLR 458 applied Demagogue Pty Limited v Ramensky (1992) 39 FCR 31 applied Poseidon Limited v Adelaide Petroleum NL (1991) 105 ALR 25 referred to Marks v GIO Australia Holdings Limited (1998) 196 CLR 494 applied Sellars v Adelaide Petroleum NL (1994) 179 CLR 332 applied Bennett v Minister of Community Welfare (1982) 176 CLR 408 applied