Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Chowder Bay Pty Ltd v Paganin [2017] FCA 332 File number: WAD 461 of 2013
Judge: BARKER J
Date of judgment: 3 April 2017
Catchwords: CONSUMER LAW – whether respondents engaged in misleading or deceptive conduct under s 52 of the Trade Practices Act 1974 (Cth) – where applicants invested in joint venture for development of a resort pursuant to syndicate agreements – joint venture debt to be repaid from sale of villas comprising the resort – whether first and second respondents were involved or engaged in misleading or deceptive conduct as directors of companies – companies applied to bank for a loan facility to finance the development – securities given by applicants to bank in respect of loan facility – whether valuations prepared by the third and fourth respondents for bank were misleading or deceptive CONSUMER LAW – whether applicants suffered loss or damage pursuant to s 82 of the Trade Practice Act 1974 (Cth) – applicants claim bank relied on valuations in providing financing for resort development – whether such reliance caused applicants to suffer loss – whether applicants entitled to damages for loss of opportunity to have development property sold – whether applicants entitled to recover legal costs incurred in related proceedings – whether related proceedings commenced as "defensive proceedings"
Legislation: Trade Practices Act 1974 (Cth) ss 52, 82 Fair Trading Act 2012 (WA) Legal Profession Act 2008 (WA)
Cases cited: ABN AMRO Bank NV v Bathurst Regional Council (2014) 224 FCR 1; [2014] FCAFC 65 Advanced Buildings Systems Pty Ltd v Ramset Fasteners (Aust) Pty Ltd (1995) ATPR (Digest) 46-144; [1995] FCA 236 Bennett v Elysium Noosa Pty Ltd (in liquidation) (2012) 202 FCR 72; [2012] FCA 2011 Caason Investments Pty Ltd v Cao [2015] FCAFC 94 De Bortoli Wines Pty Ltd v HIH Insurance Ltd [2012] FCAFC 28 Digi-tech (Australia) Pty Ltd v Brand (2004) 62 IPR 184; [2004] NSWCA 58 Finishing Services Pty Ltd v Lactos Fresh Pty Ltd (2007) ANZ ConvR 93; [2006] FCAFC 177 Hampic Pty Ltd v Adams [1999] NSWCA 455 I&L Securities Ltd v HTW Valuers (Brisbane) Pty Ltd (2002) 210 CLR 109; [2002] HCA 41 Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd (2008) 73 NSWLR 653; [2008] NSWCA 206 Janssen-Cilag Pty Ltd v Pfizer Pty Ltd (1992) 37 FCR 526 JLW (Vic) Pty Ltd v Tsiloglou [1994] 1 VR 237 Marks v GIO Australia Holding Ltd (1998) 196 CLR 494; [1998] HCA 69 McBride v Christie's Australia Pty Ltd [2014] NSWSC 1729 McCarthy v McIntyre [1999] FCA 784 QNI Resources Pty Ltd v Sino Iron Pty Ltd [2016] QSC 62 Sellars v Adelaide Petroleum NL (1994) 179 CLR 332; [1994] HCA 4 Townsend v Roussety and Co (WA) Pty Ltd (2007) 33 WAR 321; [2007] WASCA 40. Travel Compensation Fund v Tambree (2005) 224 CLR 627; [2005] HCA 69
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