Australian Equity Investors, An Arizona Limited Partnership v Colliers International (NSW) Pty Limited (No 4) [2011] FCA 442

FEDERAL COURT OF AUSTRALIA

Australian Equity Investors, An Arizona Limited Partnership v Colliers International (NSW) Pty Limited (No 4) [2011] FCA 442 Citation: Australian Equity Investors, An Arizona Limited Partnership v Colliers International (NSW) Pty Limited (No 4) [2011] FCA 442

Parties: AUSTRALIAN EQUITY INVESTORS, AN ARIZONA LIMITED PARTNERSHIP and THE 258 NEST, AN ARIZONA LIMITED PARTNERSHIP v COLLIERS INTERNATIONAL (NSW) PTY LTD and JOHN PAUL MARKOPOULOS

File number: NSD 1344 of 2009

Judge: COWDROY J

Date of judgment: 5 May 2011

Catchwords: TRADE PRACTICES – Whether representations as to the achievable gross realisation upon the development of land were misleading or deceptive or were likely to mislead or deceive contrary to s 52 of the Trade Practices Act 1974 (Cth) – whether such representations were false or misleading concerning the price payable for land contrary to s 53A of the Trade Practices Act 1974 (Cth) COSTS – Claim for indemnity costs in circumstances in which the First Respondent continued to maintain that their representation as to the achievable gross realisation was justified – indemnity costs awarded against the First Respondent from the period commencing when the First Respondent became aware that its defence was unsupportable COSTS – Security for costs – claim for repayment of amount paid for security of costs for hearing on separate questions of law – findings in favour of Applicants – order that the security be repaid to the Applicants

Legislation: Federal Court of Australia Act 1976 (Cth) s 37N Trade Practices Act 1974 (Cth) ss 51A, 52, 53A, 82, 87