I-Achieve Technology Limited v Sojo (NSW) Pty Limited & Ors [2001] NSWSC 16

New South Wales Supreme Court

CITATION : I-Achieve Technology Limited v Sojo (NSW) Pty Limited & Ors [2001] NSWSC 16 CURRENT JURISDICTION: Equity Division FILE NUMBER(S) : SC 3469 of 2000 HEARING DATE(S) : 20, 21, 22 and 23 November 2000 JUDGMENT DATE : 31 January 2001

I-Achieve Technology Limited (Plaintiff) PARTIES : Sojo (NSW) Pty Limited (First Defendant) Gregory Joseph Fisher (Second Defendant) Jonathan Owen Broster (Third Defendant) JUDGMENT OF : Bergin J

COUNSEL : JW Stevenson (Plaintiff) FM Douglas QC/S Burley (First and Third Defendants) SOLICITORS : Deacons (Plaintiff) Holding Redlich (First and Third Defendants) CATCHWORDS : [TRADE PRACTICES] - Whether share sale agreement should be set aside on the basis of false or misleading representations upon which the plaintiff claims it relied and was induced to purchase the shares. [AGENCY] - Whether vendors of shares authorized the maker of the representations to negotiate with the plaintiff on their behalf - Whether the maker of the representations was authorized by the vendors of the shares to make the representations - Vendors knew that maker of representations was in the habit of making optimistic and sometimes false statements about the performance of the relevant corporation and did not place any limit or restraint on maker of representations in the negotiations. LEGISLATION CITED : Trade Practices Act 1974 (Clth) Fair Trading Act 1987 (NSW) Argy v Blunts and Lane Cove Real Estate (1990) 26 FCR 112 Barwick v English Joint Stock Bank (1867) L.R. 2 Ex 259 Colonial Mutual Life Assurance Society Ltd v The Producers and Citizens Co-operative Assurance Company of Australia Ltd (1931) 46 CLR 41 MacKay v Commercial Bank of New Brunswick (1874) L.R. 5 P.C. 394 CASES CITED : March v Stramare (E & MH) Pty Ltd (1991) 171 CLR 506 Scott v Davis (2000) 74 ALJR 1410 South Sydney District Rugby League Football Club v News Ltd [2000] FCA 1541 Trade Practices Commission v Queensland Aggregates Pty Ltd (No.3) (1982) 61 FLR 52 Wardley Australia Ltd v Western Australia (1992) 175 CLR 514 DECISION : Plaintiff's application refused.