25 Nov 2009
ICON CENTRAL LIMITED V COLLINGWOOD AND SCANLEN AND ORS HC AK CIV-2008-404-007424
- Citation
- openlaw-b9e4561d_67ba_4510_a135_29d0c2d8f57e.pdf
- Court
- High Court
BFB and particular Blue Chip sales agents had an implied actual authority to sell Icon's apartments but that authority was limited to marketing and selling the apartments; representations concerning Blue Chip products, PIP and PAC were made on behalf of BFB/Blue Chip and fell outside the scope of the agency Icon authorised, so Icon was not liable for those representations; the PIP and PAC arrangements were not, on the case presented, captured by the Securities Act 1978 or were exempt under s5(1)(b); tainting and insolvency arguments failed; accordingly investors were not entitled to cancel an…