Halsted (Bankrupt) v The Official Trustee in Bankruptcy, in the matter of Halsted (Bankrupt) (No 2) [2012] FCA 66

FEDERAL COURT OF AUSTRALIA

Halsted (Bankrupt) v The Official Trustee in Bankruptcy, in the matter of Halsted (Bankrupt) (No 2) [2012] FCA 66 Citation: Halsted (Bankrupt) v The Official Trustee in Bankruptcy, in the matter of Halsted (Bankrupt) (No 2) [2012] FCA 66

Parties: WILLIAM ANTHONY HALSTED (A BANKRUPT) v THE OFFICIAL TRUSTEE IN BANKRUPTCY, SLATER & GORDON LAWYERS (A FIRM) and ASK FUNDING LIMITED (ACN 094 503 385)

File number: QUD 221 of 2011

Judge: LOGAN J

Date of judgment: 9 February 2012

Catchwords: COSTS – loan contract – valid equitable charge in favour of respondent – application of contra proferentum rule – order for costs – whether applicant should be ordered to pay costs on a party and party basis or indemnity basis – construction of contractual arrangement – clause insufficiently explicit to require costs be paid on indemnity basis COSTS – imprudent or unreasonable refusal of an offer of compromise by applicant – whether indemnity costs to be ordered – indemnity costs ordered to be paid from date of expiry of reasonable offer of compromise

Legislation: Bankruptcy Act 1966 (Cth) s 116 Federal Court of Australia Act 1976 (Cth) s 43 National Consumer Credit Protection Act 2009 (Cth) Sch 1 Federal Court Rules 2011 (Cth) r 40.01 Credit (Commonwealth Powers) Act 2010 (Qld) s 11 Consumer Credit Act 1994 (Qld)