Highstoke Pty Ltd v Hayes Knight GTO Pty Ltd (No 2) [2007] FCA 36

FEDERAL COURT OF AUSTRALIA

Highstoke Pty Ltd v Hayes Knight GTO Pty Ltd (No 2) FCA [2007] 36

COSTS – intervenor – examination proceedings under Corporations Act 2001 (Cth) - powers of court – constitutional validity – intervention by Australian Securities and Investments Commission – whether intervenor liable to costs – substantive participation – costs awarded against ASIC and apportioned with other respondents Corporations Act 2001(Cth) s 1330 Highstoke Pty Ltd v Hayes Knight GTO Pty Ltd [2007] FCA 13 cited

HIGHSTOKE PTY LTD (ACN 109 142 225) AS TRUSTEE FOR HOLDERS OF DEBENTURE STOCK ISSUED BY PERFORMANCE FINANCE LIMITED (IN RECEIVERSHIP) v HAYES KNIGHT GTO PTY LTD (ACN 009 101 286) AND JOHN MICHAEL O'BRIEN

WAD 198 OF 2005

FRENCH J

19 JANUARY 2007

PERTH

IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD198 OF 2005

BETWEEN: HIGHSTOKE PTY LTD (ACN 109 142 225) AS TRUSTEE FOR HOLDERS OF DEBENTURE STOCK ISSUED BY PERFORMANCE FINANCE LIMITED (IN RECEIVERSHIP)

AND: HAYES KNIGHT GTO PTY LTD ACN 009 101 286

First Respondent

JOHN MICHAEL O'BRIEN

Second Respondent

judge: french j DATE OF ORDER: 19 january 2007

WHERE MADE: PERTH

THE COURT ORDERS THAT:

The respondents' costs of the application up to 8 February 2006 be paid by the applicant and the costs thereafter be paid as to two-thirds by the applicant and one-third by the intervener. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD 198 OF 2005

BETWEEN: HIGHSTOKE PTY LTD (ACN 109 142 225) AS TRUSTEE FOR HOLDERS OF DEBENTURE STOCK ISSUED BY PERFORMANCE FINANCE LIMITED (IN RECEIVERSHIP)

AND: HAYES KNIGHT GTO PTY LTD ACN 009 101 286

First Respondent