Chinchilla on the Bay Pty Ltd v Independent Reserve Pty Ltd
[2023] NSWCATAP 19
At a glance
Source factsCourt
NCAT Appeal Panel
Decision date
2022-11-13
Source
Original judgment source is linked above.
Judgment (10 paragraphs)
Background
- On 24 January 2022 the appellant commenced three separate applications in the Consumer and Commercial Division of the Tribunal seeking orders for compensation exceeding $109,000. The applicant and respondent entered into an arrangement for the trading of crypto currency, the respondent provided services as exchange for the trading of such currency.
- The appellant contended that the respondent was negligent and that the crypto currency was stolen from the appellant's account, causing loss and damage in the stated amount. The respondent submitted that the Tribunal had no jurisdiction to hear and determine the applicant's three applications as they exceeded the jurisdictional limit of the Tribunal of $40,000, as it then was.
- The application was set down for a preliminary hearing of the issue of jurisdiction and the Tribunal made orders and findings on 20 June 2022. The Tribunal found that there was one consumer claim arising from the supply of services to the appellant account holder and that the appellant could not increase the jurisdictional limit under section 79E of the Fair Trading Act 1987 (the FT Act) by splitting the claim into three separate applications (the decision). The applicant withdrew two of its applications and the third application remains listed for hearing in January 2023.
- On 18 July 2022 the jurisdictional limit for consumer claims brought before the Tribunal pursuant to the FT Act was increased from $40,000 to $100,000 (see Fair Trading Amendment (Monetary Limit on Orders) Regulation, s 79S of the FT Act).
- The Appeal Panel received a Notice of Appeal on 19 July 2022 seeking to overturn the Tribunal's decision.
- On Friday 23 September 2022 the appellant withdrew its appeal before the Monday morning hearing.
- The respondent seeks an order for costs of the appeal on an indemnity basis or, in the alternative, an order that the Appeal Panel award costs fixed in the amount of $22,000.