Australian Securities and Investments Commission v BSF Solutions Pty Ltd (Liability) [2024] FCA 553

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v BSF Solutions Pty Ltd (Liability) [2024] FCA 553 File number: NSD 1110 of 2023

Judgment of: JACKMAN J

Date of judgment: 24 May 2024

Catchwords: CONSUMER LAW – alleged contraventions of National Consumer Credit Protection Act 2009 (Cth) ss 29, 32 – whether first respondent and second respondent engaged in credit activity without a licence – where first respondent advanced credit but second respondent charged relevant fees – whether "Account Keeping Fee" and "Change of Payment Schedule Fee" were charges made for providing credit – contraventions established CONSUMER LAW – accessory liability – where directors had actual knowledge of essential facts which lead to the conclusion that charges were made for providing credit – directors involved in contraventions CONSUMER LAW – remedies – declarations and injunctions – whether respondents precluded from recovering principal

Legislation: Evidence Act 1995 (Cth) s 136 National Consumer Credit Protection Act 2009 (Cth) ss 5–9, 29, 32, 166, 169, 177, 182, 253, 295, 303, Sch 1 (National Credit Code) ss 3–6, 13

Cases cited: Allianz Australia Insurance Ltd v Delor Vue Apartments CTS 39788 [2021] FCAFC 121; (2021) 287 FCR 388 Australian Securities and Investments Commission v Australian Investors Forum Pty Ltd (No 2) [2005] NSWSC 267; (2005) 53 ACSR 305 Australian Securities and Investments Commission v BHF Solutions Pty Ltd [2022] FCAFC 108; (2022) 293 FCR 330 Australian Securities and Investments Commission v BHF Solutions Pty Ltd (No 2) [2023] FCA 787 Australian Securities and Investments Commission v Somerville [2009] NSWSC 934; (2009) 77 NSWLR 110 Construction, Forestry, Mining and Energy Union v Clarke [2007] FCAFC 87; (2007) 164 IR 299 Fair Work Ombudsman v South Jin Pty Ltd [2015] FCA 1456 Giorgianni v The Queen (1985) 156 CLR 473 Gore v Australian Securities and Investments Commission [2017] FCAC 13; (2017) 249 FCR 167 Jones v Dunkel (1959) 101 CLR 298 Kuhl v Zurich Financial Services Australia Ltd [2011] HCA 11; (2011) 243 CLR 361 NMFM Property Pty Ltd v Citibank Ltd (No 10) [2000] FCA 1558; (2000) 107 FCR 270 Qantas Airways Ltd v Transport Workers' Union of Australia [2011] FCA 470; (2011) 280 ALR 503 Rafferty v Madgwick [2012] FCAFC 37; (2012) 203 FCR 1 Rural Press Ltd v Australian Competition and Consumer Commission [2003] HCA 75; (2003) 216 CLR 53 State of Western Australia v Bourke (No 3) [2010] WASC 110 The Queen v Toohey; Ex parte Attorney-General (NT) (1980) 145 CLR 374 Transport Industries Insurance Co Ltd v Longmuir [1997] 1 VR 125 Truong v R [2004] HCA 10; (2004) 223 CLR 122 Yorke v Lucas (1985) 158 CLR 661