In the matter of William Enterprise Holdings Pty Ltd; In the matter of William Enterprise Group Pty Ltd; In the matter of William Enterprise Trading Pty Ltd; In the matter of William Powdercoating and Fabrication Pty Ltd [2017] NSWSC 38

Supreme Court New South Wales

Medium Neutral Citation: In the matter of William Enterprise Holdings Pty Ltd; In the matter of William Enterprise Group Pty Ltd; In the matter of William Enterprise Trading Pty Ltd; In the matter of William Powdercoating and Fabrication Pty Ltd [2017] NSWSC 38 Hearing dates: 8 December 2016 Decision date: 07 February 2017 Jurisdiction: Equity - Corporations List Before: Black J Decision: Plaintiff to bring in short minutes of order to give effect to this judgment and as to costs within 14 days. Catchwords: TRADE PRACTICES – Misleading or deceptive conduct claims under s 18 of the Australian Consumer Law and s 12DA of the Australian Securities and Investments Commission Act 2001 (Cth) – whether relief available under s 1041H of the Corporations Act 2001 (Cth) – where plaintiff asserted various misleading or deceptive conduct claims against defendants in respect of the plaintiff's subscription for shares in company – whether any representations were misleading or deceptive and if so whether they were causative of plaintiff's loss. Legislation Cited: - Australian Consumer Law, ss 18, 243, 236 - Australian Securities and Investments Commission Act 2001 (Cth), ss 12BAB, 12BB, 12DA, 12GF, 12GM(7) - Competition and Consumer Act 2010 (Cth), s 131A - Corporations Act 2001 (Cth), ss 232–233, 247E, 439A, 500(2), 563A, 796C, 1041H–1041I, 1325 - Corporations Amendment (Sons of Gwalia) Act 2010 (Cth) Cases Cited: - Ambergate Ltd v CMA Corporation Ltd (admins apptd) [2016] FCA 94; (2016) 110 ACSR 642 - Australian Competition and Consumer Commission v Fisher & Paykel Customer Services Pty Ltd [2014] FCA 1393 - Australian Competition and Consumer Commission v Jewellery Group Pty Ltd [2012] FCA 848; (2012) 293 ALR 335 - Australian Competition and Consumer Commission v Telstra Corporation Ltd [2007] FCA 1904; (2007) 244 ALR 470 - Australian Competition and Consumer Commission v TPG Internet Pty Ltd [2013] HCA 54; (2013) 250 CLR 640 - Australian Securities and Investments Commission v Cycclone Magnetic Engines Inc [2009] QSC 58; (2009) 71 ACSR 1 - Australian Securities and Investments Commission v Narain [2008] FCAFC 120; (2008) 169 FCR 211; (2008) 66 ACSR 688 - Banque Commerciale SA v Akhill Holdings Ltd [1990] HCA 11; (1990) 169 CLR 271 - Butcher v Lachlan Elder Realty Pty Ltd [2004] HCA 60; (2004) 218 CLR 592 - CH Real Estate Pty Ltd v Jainran Pty Ltd [2010] NSWCA 37 - Campbell v Backoffice Investments Pty Ltd [2009] HCA 25; (2009) 238 CLR 304 - Demagogue Pty Ltd v Ramensky (1992) 110 ALR 608 - Forty Two International Pty Ltd v Barnes [2014] FCA 85; (2014) 97 ACSR 450 - Henjo Investments Pty Ltd v Collins Marrickville Pty Ltd (1988) 39 FCR 546; 79 ALR 83 - Houghton v Arms [2006] HCA 59; (2006) 225 CLR 553 - Houldsworth v City of Glasgow Bank (1880) 5 App Cas 317 - Parkdale Custom Built Furniture Pty Ltd v Puxu Pty Ltd [1982] HCA 44; (1982) 149 CLR 191 - Pramoko v Grande Enterprises Ltd [2015] WASCA 157; (2015) 108 ACSR 469 - Re Colorado Products Pty Ltd (in prov liq) [2014] NSWSC 789; (2014) 101 ACSR 233 - Redmond Family Holdings v GC Access Pty Ltd & Ors [2016] NSWSC 796 - Senanayake v Cheng [1966] AC 63 - Spence v Crawford [1939] 3 All ER 271 - Trustees of the Roman Catholic Church for the Diocese of Parramatta v Doepel [2016] NSWSC 1566 - ZX Group Pty Ltd v LPD Corp Pty Ltd [2013] VSC 542 Category: Principal judgment Parties: Yaohua Shi (Plaintiff) William Cai (First Defendant) William Enterprise Holdings Pty Ltd (Second Defendant) Representation: Counsel: J E Thomson (Plaintiff) No appearance by the First Defendant H Collins (Solicitor – Second Defendant – excused from attendance)