Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Crescent Capital Partners Management Pty Limited v Crescent Funds Management (Aust) Limited [2016] FCA 229 File number: NSD 448 of 2014
Judge: BENNETT J
Date of judgment: 9 March 2016
Catchwords: TRADE PRACTICES – misleading and deceptive conduct claims brought under Australian Consumer Law and Australian Securities and Investments Commission Act 2001 (Cth) – companies engaged in financial services industry – whether contravening conduct established – whether business names, domain names and business activities sufficiently similar to be confusing and causative of contravening conduct – whether financial services market susceptible to division on basis of asset classes – whether financial services market susceptible to division on basis of investor characteristics – whether distinction between sophisticated investors and other investors relevant – whether distinction between retail and wholesale investors relevant TRADE PRACTICES – claims of accessorial liability for misleading and deceptive conduct of others – whether respondents could be said to have participated with requisite knowledge in contravening conduct
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) ss 5(2)(b), 12DA, 12DB, 12GD, 12GF Competition and Consumer Act 2010 (Cth), Sch 2 ss 2, 18, 29 Corporations Act 2001 (Cth) ss 79, 761G Corporations Regulations 2001 (Cth) regs 7.1.18(2), 7.1.19(2), 7.1.28
Cases cited: Anchorage Capital Partners Pty Ltd v ACPA Pty Ltd (2015) 115 IPR 67 Australian Competition and Consumer Commission v Coles Supermarkets Australia Pty Ltd (2014) 317 ALR 73 Australian Competition and Consumer Commission v TPG Internet Pty Ltd (2013) 250 CLR 640 Bridge Stockbrokers Ltd v Bridge (1984) 4 FCR 460 Campomar Sociedad Limitada v Nike International Ltd (2000) 202 CLR 45 Cassidy v NRMA Health Pty Ltd [2002] FCA 1228 Chase Manhattan Overseas Corporation v Chase Corporation Ltd (1986) 12 FCR 375 Roumanus v Orchard Holdings (NSW) Pty Limited (in Liq) (2012) 90 ACSR 677 Yorke v Lucas (1985) 158 CLR 661
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