Australian Securities and Investments Commission v Latitude Finance Australia (No 2) [2024] FCA 1205

FEDERAL COURT OF AUSTRALIA Australian Securities and Investments Commission v Latitude Finance Australia (No 2) [2024] FCA 1205 File number:

Judgment of: YATES J

Date of judgment: 18 October 2024

Catchwords: CONSUMER LAW – misleading or deceptive conduct – alleged contraventions of ss 12DA(1), 12DF(1) and 12DB(1)(a), (i) and (g) of the Australian Securities and Investments Commission Act 2001 (Cth) – where defendants prepared, published and broadcast, or caused to be prepared, published and broadcast, a large number of newspaper, radio, and television advertisements in Australia – where the advertisements promoted the purchase of home and electrical goods from the second defendant's franchised stores by equal monthly payments of the purchase price for the goods over 60 months on "no deposit" and "no interest" terms (the promotion) – whether the representative advertisements conveyed the impression to ordinary and reasonable consumers that the material terms of the payment method were only those referred to in the promotion – whether the representative advertisements conveyed the impression to ordinary and reasonable consumers that the consumer would only be liable to pay the price of those goods by way of 60 equal monthly payments, or alternatively, that any fees or charges would be relatively insubstantial – whether these impressions were misleading or deceptive (or likely to mislead or deceive) where, to access the promotion, consumers were required to have, or apply for and be approved for, an eligible credit card issued by the first defendant and to pay an establishment fee and monthly account service fees in respect of the account linked to the credit card

Competition and Consumer Act 2010 (Cth) Sch 2 (Australian Consumer Law) s 18 Australian Securities and Investments Commission Act 2001 (Cth) ss 12BAA, 12BAB, 12DA, 12DB, 12DF, 12DL, 12GBA, 12GBB, 12GD, 12GH, 12GLA, 12GLB, 19 Legislation: Federal Court of Australia Act 1976 (Cth) ss 21, 23 Australian Securities and Investments Commission Regulations 2001 (Cth) reg 2B Legal Profession Uniform Law 2014 (NSW)