No court date has yet been set. Lifestyle Communities, which has a market capitalisation of $1.6 billion, only served notice on the $9 billion Stockland on Wednesday.
The legal spat lays bare the competition in the growing market of housing for Baby Boomers looking to sell their equity-rich family home and free up cash by downsizing to a smaller residence.
Mr Kelly said it was difficult to quantify the loss to his company caused by Stockland’s use of the term “lifestyle communities” to refer to its own manufactured housing estates, but that it had to be causing confusion.
“It’s the digital loss that’s incalculable,” he said. “You don’t know how much brand confusion has occurred.”
Stockland confirmed receipt of the statement of claim, but declined to comment.
“We have received notice of a statement of claim,” a spokeswoman said. “Given the matter is now before the court, we won’t be making any further comment.”
