Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Clifford v Vegas Enterprises Pty Ltd (No 5) [2010] FCA 916 Citation: Clifford v Vegas Enterprises Pty Ltd (No 5) [2010] FCA 916
Parties: PHILIP GEORGE CLIFFORD v VEGAS ENTERPRISES PTY LTD (ACN 009 078 148), RODNEY DESMOND HART and GEOFFREY BRIAN BACKSHALL
File number: WAD 28 of 2009
Judge: BARKER J
Date of judgment: 24 August 2010
Catchwords: TRADE PRACTICES - misleading or deceptive conduct – applicant alleged respondents made misleading or deceptive representations to induce share purchase in first respondent – whether representations were in relation to the supply or possible supply of financial services – whether Part V of the Trade Practices Act 1974 (Cth) applies – Part V held not to apply CORPORATIONS – misleading or deceptive conduct – whether alleged representations were in fact made – whether in any event applicant relied on alleged representations – whether respondents failed to disclose material facts – whether respondents had reasonable grounds for non-disclosure – Corporations Act 2001 (Cth), s 1041H, s 1041I
Legislation: Corporations Act 2001 (Cth) s286, s 763A, s 764A, s 761A, s 1041H, s 1041I, s 1325, Fair Trading Act 1987 (WA) s 10, s 77, s 79 Trade Practices Act 1974 (Cth) s 51A, s 51AF, s 52, s 82, s 87 Cross on Evidence (8th Australian Edition, 2010) JD Heydon
Cases cited: Arktos Pty Ltd v Idyllic Nominees Pty Ltd [2004] FCAFC 119 Austin v Keele (1987) 72 ALR 579 Australian Securities and Investments Commission v Cycclone Magnetic Engines Inc [2009] QSC 58; (2009) 71 ACSR 1 Australian Securities and Investments Commission v Macdonald (No 11) [2009] NSWSC 287; (2009) 256 ALR 199; Australian Securities and Investments Commission v Narain [2008] FCAFC 120; (2008) 169 FCR 211; Avoca Consultants Pty Ltd v Millennium3 Financial Services Pty Ltd [2009] FCA 883; (2009) 179 FCR 46 Bennett v Minister for Community Welfare [1992] HCA 27; (1992) 176 CLR 408 Clifford v Vegas Enterprises Pty Ltd (No 4) [2010] FCA 326 Demagogue Pty Ltd v Ramensky (1992) 39 FCR 31 Donald Financial Enterprises Pty Ltd v APIR Systems Ltd [2008] FCA 1112 Draper v Official Trustee in Bankruptcy [2006] FCAFC 157; (2006) 156 FCR 53 Flinn v Flinn [1999] VSCA 109; [1999] 3 VR 712 Fraser v NRMA Holdings Ltd (1995) 55 FCR 452 Grant v Edwards [1986] Ch 638 Green v Green (1989) 17 NSWLR 343 Green v Green [2003] UKPC 39; (2002-03) 5 ITELR 888 Henjo Investments Pty Ltd v Collins Marrickville Pty Ltd (1988) 79 ALR 83 HTW Valuers (Central Qld) Pty Ltd v Astonland Pty Ltd [2004] HCA 54; (2004) 217 CLR 640 Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets (No 6) [2007] NSWSC 124 Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd [2008] NSWCA 206; (2008) 73 NSWLR 653 Pain v Pain [2006] QSC 335 Payne v Parker (1976) 1 NSWLR 191 Port Kennedy Golf Country Club Pty Ltd v Port Kennedy Resorts Pty Ltd [1999] WASC 253 Re Glory Rise Limited [2008] HKCFA 48 Stowe v Stowe (1995) 15 WAR 363 Sui Mei Huen v Official Receiver [2008] FCAFC 117; (2008) 248 ALR 1 Tooheys Ltd v Commissioner of Stamp Duties (1961) 105 CLR 602 Townsend v Roussety & Co (WA) Pty Ltd (2007) 33 WAR 321 Vitek v Estate Homes Pty Ltd [2010] NSWSC 237 Watson v Foxman (1995) 49 NSWLR 315 Western Australia v Watson [1990] WAR 248 Winterton Constructions Pty Ltd v Hambros Australia Ltd (1992) 39 FCR 97
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