Walker v Citigroup Global Markets Pty Ltd [2005] FCA 1866

FEDERAL COURT OF AUSTRALIA

Walker v Citigroup Global Markets Pty Ltd [2005] FCA 1866 INTEREST – section 51A of the Federal Court of Australia Act 1976 (Cth) – requirement of application for award of interest – delay in making application – whether O 35 r 7 of the Federal Court Rules applied – rate of interest – the Court's usual practice – whether State interest rates were commercial COSTS – indemnity costs – whether the respondents should have known that they had no chance of success on the question of liability – failure to make proper discovery Trade Practices Act 1974 (Cth), s 52 Federal Court of Australia Act 1976 (Cth), s 4, 24, 51A Penalty Interest Rates Act 1983 (Vic) Federal Court Rules 1979 (Cth), O 35 r 7 Walker v Citigroup Global Markets Pty Ltd [2005] FCA 1678 discussed Walker v Salomon Smith Barney Australia Securities Pty Ltd [2003] FCA 1099 discussed Kewside Pty Ltd v Warman International Ltd (1990) ATPR 41-012 referred to Pheeney v Doolan (No. 2) [1977] 1 NSWLR 601 discussed Hanave Pty Ltd v LFOT Pty Ltd (2004) 136 FCR 566 discussed Driclad Pty Ltd v Commissioner of Taxation (1968) 121 CLR 45 referred to Ah Toy v Registrar of Companies (1985) 10 FCR 280 cited Hi-Fert Pty Ltd v Kiukiang Maritime Carriers Inc (No 2) (1998) 155 ALR 328 cited Hannpost Pty Ltd v Mita Copiers Australia Pty Ltd (1996) 137 ALR 701 cited Hanave Pty Ltd v LFOT Pty Ltd [2003] FCA 1154 referred to GEC Marconi Systems Pty Limited v BHP Information Technology Pty Limited (2003) 201 ALR 55 discussed Namol Pty Ltd v AW Baulderstone Pty Ltd (No 2) (1993) 47 FCR 388 referred to EMCL Pty Ltd v ESANDA Finance Corp Ltd [1999] FCA 978 applied Re Wilcox; Ex parte Venture Industries Pty Ltd (No 2) (1996) 72 FCR 151 applied Abbott v Random House Australia Pty Ltd [1999] FCA 1540 referred to Colgate-Palmolive Company v Cussons Pty Ltd (1993) 46 FCR 225 followed Yates v Boland [2000] FCA 1895 applied DAVID WALKER v CITIGROUP GLOBAL MARKETS PTY LTD (FORMERLY SALOMON SMITH BARNEY AUSTRALIA SECURITIES PTY LIMITED) AND CITIGROUP GLOBAL MARKETS AUSTRALIA HOLDINGS PTY LTD (FORMERLY SALOMON SMITH BARNEY AUSTRALIA PTY LIMITED) VID 531 OF 1998 KENNY J 19 DECEMBER 2005 MELBOURNE