Les & Zelda Investments Pty Ltd v Whitehaven Coal Ltd [2020] NSWSC 1091

Supreme Court New South Wales

Medium Neutral Citation: Les & Zelda Investments Pty Ltd v Whitehaven Coal Ltd [2020] NSWSC 1091 Hearing dates: 30 and 31 July 2020 Date of orders: 5 August 2020 Decision date: 05 August 2020 Jurisdiction: Equity Before: Parker J Decision: [101] Catchwords: COSTS – security for costs – assessment of quantum – where security provided in tranches – method of assessment – shareholder class action – litigation funder – whether discount from estimated party-party costs appropriate Legislation Cited: Civil Procedure Act 2005 (NSW), s 101(4) Companies Act 1862, 25 & 26 Vict, c 89, s 69 Corporations Act 2001 (Cth), s 1335(1) Federal Court of Australia Act 1976 (Cth), s 56 Federal Court Rules 2011 (Cth), pt 19.01 High Court Procedure Act 1903 (Cth), s 35(2) Rules of Supreme Court, 1875 Rules of Supreme Court, 1883 Uniform Civil Procedure Rules 2005 (NSW), rr 42.21, 51.50 Cases Cited: Aberdare & Plymouth Co v Hankey (No 2) (1888) 32 SJ 644 Australia Worldwide Pty Ltd v AW Exports Pty Ltd [2018] NSWSC 1632 Brundza v Robbie & Co (No 2) (1952) 88 CLR 171 Dominion Brewery Ltd v Foster (1898) 77 LT 507 Farmitalia Carlo Erba SrL v Delat West Pty Ltd (1994) 28 IPR 336 Foss Export Agency Pty Ltd v Trotman (1949) 67 WN (NSW) 1 Imperial Bank of China, India, and Japan v Bank of Hindustan, China and Japan (1866) LR 1 Ch App 437 Kupang Resources Ltd v Elias [2018] NSWSC 1553 Mundi v Hesse [2018] NSWSC 1548 Norcast S.árL v Bradken Limited [2012] FCA 765 Pioneer Park Pty Ltd v Australian and New Zealand Banking Group Limited [2007] NSWCA 344 Procon (GB) Ltd v Provincial Building Co Ltd [1984] 2 All ER 368 Sunday Times Newspaper Company Ltd v McIntosh (1933) SR (NSW) 371 Tim Barr Pty Ltd v Narui Gold Coast Pty Ltd [2009] NSWSC 563 Voxson Pty Ltd v Telstra Corporation Ltd (No 8) [2017] FCA 1427 Texts Cited: Commercial List and Technology and Construction List (Practice Note SC Eq 3), paragraph 57 Category: Procedural rulings Parties: Whitehaven Coal Limited (Applicant/Defendant) Les & Zelda Investments Pty Ltd (Respondent/Plaintiff) Representation: Counsel: S Doyle QC/I Ahmed (Applicant/Defendant) DR Pritchard SC (Respondent/Plaintiff)