Federal Court of Australia
if,
0°, (LIMITED DISTRIBUTION)
IN THE FEDERAL COURT OF AUSTRALIA
) ) VICTORIA DISTRICT REGISTRY ) VG No. 91 of 1985 ) }
GENERAL DIVISION
Between: LABERTOUCHE SANDS PTY. LTD.
(Applicant)
And: MOOWINNYBAH PASTORAL COQ. Pry. LTD.
(Pirst-named Respondent)
EDWARD COOPER
E fe] A
(Second-named Respondent)
E
REG LATIMER
(Third-named Respondent)
hed a] jan
MOOWINNYBAH PASTORAL CO.
PTY. LTD. and EDWARD COOPER
(Cross Claimants)
E [an
REG LATIMER
(Cross Respondent)
Coram: Ryan J. Date: 16 December 1986
REASONS FOR JUDGMENT
By notice of motion dated 14 August 1986, the first and
second respondents have sought orders that the applicant give
security in the sum of $660,000 for their costs of the
application, and that further proceedings on the applicant's
claim be stayed until security is provided. The application
for security for costs was made under both s.533{1) of
Companies (Victoria) Code ("the Code") and 5.56 of
Federal Court of Australia Act 1976. Section 533(1) of
Code provides:
"Where a corporation is plaintiff in any action or other legal proceeding, the court having jurisdiction in the matter may, if it appears by credible testimony that there is reason to believe that the corporation will be unable to pay the costs of the defendant if successful in his defence, require sufficient security to he given for those costs and stay all proceedings until the security is given."
Section 56 of the Federal Court of Australia Act is in
following terms:
"(1) The Court or a Judge may order a plaintiff in a proceeding in the Court or an appellant in an appeal to the Court to
give security for the payment of costs that may be awarded against him.
(2) The security shall be of such amount, and given at such time and in such manner and form, as the Court or Judge directs.
(3) The Court or a dudge may reduce or increase the amount of security ordered to be given and may vary the time at which, or Manner or form in which, the security
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