Rawley Pty Ltd ACN 009 027 454 v Bell (No 2) [2007] FCA 583

FEDERAL COURT OF AUSTRALIA

Rawley Pty Ltd ACN 009 027 454 v Bell (No 2) [2007] FCA 583 MISLEADING OR DECEPTIVE CONDUCT – applicant investors in a failed start-up company – claim to have been induced to invest by conduct in contravention of ss 52 and 59 of the Trade Practices Act 1974 (Cth), the Fair Trading Act 1987 (SA) and the Fair Trading Act 1987 (WA) – claims which involved investments in securities precluded by s 51AF of the Trade Practices Act 1974 (Cth) and s 995A of the Corporations Law CORPORATIONS LAW – investors claim to have been induced to invest by conduct in contravention of s 995 of the Corporations Law – substantially the same claim as under the Trade Practices Act 1974 (Cth) – instances of misleading or deceptive conduct established – conduct did not induce the applicants to invest or was inconsequential NEGLIGENCE – duty of care claimed to be owed by accountant – representations pleaded as breaching this duty were not relied upon by the applicants FIDUCIARY LAW – fiduciary duty claimed to exist as between licensor and licensee or as promoters – alleged non-disclosure – no fiduciary relationship INSURANCE – cross-claim made by insured against insurer – clause within the policy that if full payment of the premium was not made then there would be no cover – late payment – no insurance cover at the relevant time Trade Practices Act 1974 (Cth)ss 51AE, 51AF, 52, 59(2), 75B and 82 Corporations Law ss 9, 92(2), 995, 995A, 1325 Fair Trading Act 1987 (SA) Fair Trading Act 1987 (WA) Australian Securities and Investment Commission Act 1989 (Cth), s 12BA(1) Corporations Act 2001 (Cth) s 1041H Insurance (Agents and Brokers) Act 1984 (Cth) ss 14 and 27 Insurance Contracts Act 1984 (Cth) Part VII Trade Practices (Industry Codes Franchising) Regulations 1998 (Cth)

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