Austcorp Project No. 20 Pty Limited v The Trust Co (PTAL) Limited, in the matter of Bellpac Pty Limited (Receivers and Managers Appointed) (in liq) (No 4) [2015] FCA 850

FEDERAL COURT OF AUSTRALIA

Austcorp Project No. 20 Pty Limited v The Trust Co (PTAL) Limited, in the matter of Bellpac Pty Limited (Receivers and Managers Appointed) (in liq) (No 4) [2015] FCA 850 Citation: Austcorp Project No. 20 Pty Limited v The Trust Co (PTAL) Limited, in the matter of Bellpac Pty Limited (Receivers and Managers Appointed) (in liq) [2015] FCA 850

Parties: AUSTCORP PROJECT NO. 20 PTY LIMITED ACN 111 470 725, COMPROMISE CREDITORS MANAGEMENT PTY LIMITED ACN 122 143 220 and ALFRED CHI WAI WONG v THE TRUST CO (PTAL) LIMITED ACN 008 412 913, TREVOR POGROSKI AND GRAHAM KILLER IN THEIR CAPACITIES AS JOINT AND SEVERAL RECEIVERS AND MANAGERS OF BELLPAC PTY LTD (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) ACN 101 713 017, TREVOR DAVID CHAPPELL, EDGAR KAI YAN HUNG

File number(s): NSD 186 of 2013

Judge(s): GLEESON J

Date of judgment: 14 August 2015

Catchwords: PRACTICE AND PROCEDURE – security for costs – application to vary security for costs orders – whether material change of circumstances – where plaintiffs' litigation funding agreement terminated – where material change does not go to terms of security for costs orders – discovery of new evidence said to improve plaintiffs' prospects of success irrelevant – orders not varied – application for summary dismissal – where no satisfactory explanation given for failure to comply with orders – where plaintiffs would be substantially prejudiced by summary dismissal – where defendants have been prejudiced by default – self-executing orders made

Legislation: Federal Court of Australia Act 1976 (Cth), s 56 Federal Court Rules 2011 (Cth), rr 1.32, 5.21(a), 19.01(1)(c), 39.05