Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Tang v Yu [2024] FCA 297 File number: NSD 488 of 2020
Judgment of: STEWART J
Date of judgment: 27 March 2024
Catchwords: CONSUMER LAW – alleged misleading or deceptive conduct in relation to financial services contrary to ss 12DA and 12GF of the Australian Securities and Investments Commission Act 2001 (Cth) – whether representations were misleading – where representations were knowingly false – whether misleading representations caused loss – where misrepresentations objectively likely to induce investment – relevance of present value of investment – whether investment had no real value at the time of investment
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) ss 12BB, 12DA, 12GF Bankruptcy Act 1966 (Cth) s 58(3)(b) Evidence Act 1995 (Cth) s 140
Cases cited: ABN AMRO Bank NV v Bathurst Regional Council [2014] FCAFC 65; 224 FCR 1 ACCC v Woolworths [2020] FCAFC 162; 281 FCR 108 ACCC v Woolworths Ltd [2019] FCA 1039 Blatch v Archer (1774) 1 Cowp 63; 98 ER 969 Briginshaw v Briginshaw [1938] HCA 34; 60 CLR 336 Campbell v Backoffice Investments Pty Ltd [2009] HCA 25; 238 CLR 304 Google Inc v ACCC [2013] HCA 1; 249 CLR 435 Gould v Vaggelas [1984] HCA 68; 157 CLR 215 HTW Valuers (Central Qld) Pty Ltd v Astonland Pty Ltd [2004] HCA 54; 217 CLR 640 Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd [2008] NSWCA 206; 73 NSWLR 653 Kizbeau Pty Ltd v WG&B Pty Ltd [1995] HCA 4; 184 CLR 281 Lord Buddha v Harpur [2013] VSCA 101; 41 VR 159 Mills v Walsh [2022] NSWCA 225 Potts v Miller [1940] HCA 43; 64 CLR 282 Self Care IP Holdings v Allergan Australia [2023] HCA 8; 408 ALR 195 Tang v Yu (evidence rulings) [2023] FCA 1541
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