Anderson v Canaccord Genuity Financial Limited [2020] NSWSC 1852

Supreme Court New South Wales

Medium Neutral Citation: Anderson v Canaccord Genuity Financial Limited [2020] NSWSC 1852 Hearing dates: 15 December 2020 Date of orders: 15 December 2020 Decision date: 15 December 2020 Jurisdiction: Equity Before: Rees J Decision: Defendants' motions for security for past costs dismissed with costs. Catchwords: SECURITY FOR COSTS – plaintiff ordinarily resident abroad – security ordered in June 2019, $1M for future costs until trial – plaintiff provides security, with difficulty – to provide $2M security for trial costs, plaintiff obtains After-The-Event insurance policy and litigation funding to pay for it – defendants now seek $2.6M security for past costs – trial imminent – applications refused. Legislation Cited: Civil Procedure Act 2005 (NSW), s 56 Uniform Civil Procedure Rules 2005 (NSW), r 42.21(1)(e) Cases Cited: Anderson v Patersons Securities Ltd [2019] NSWSC 852 Ingot & Ors v Macquarie & Ors [No 5] [2006] NSWSC 255 Bakers Investment Group (Australia) Pty Ltd v Caason Investments Pty Ltd [2014] VSC 154 Oswal v Australia and New Zealand Banking Group Ltd [2016] VSC 52 Brimaud v Honeysett Instant Print Pty Ltd (1988) 217 ALR 44 Truth About Motorways Pty Ltd v Macquarie Infrastructure Investment Management Limited [2001] FCA 1603 SSPeetham Pty Ltd (as trustee for the CHB CDI Trust) v Marcos Accountants Pty Ltd [2020] NSWSC 378 Fiduciary Ltd v Morningstar Research Pty Ltd [2004] NSWSC 664; (2004) 208 ALR 564 Green (as liquidator of Arimco Mining Pty Ltd) v CGU Insurance Ltd [2008] NSWCA 148 Mallonland Pty Ltd & Anor v Advanta Seeds Pty Ltd (No 2) [2020] QSC 21 Karl Suleman Enterprizes Pty Ltd (in liq) v Pham [2010] NSWSC 886 Category: Principal judgment Parties: Daniela Anderson (Plaintiff) Canaccord Genuity Financial Limited (First Defendant) Nicola Garrett (Second Defendant) Samuel Renauf (Third Defendant) PPB Pty Limited (Falcon Prime Pty Ltd) (Fourth Defendant) Accorn Capital Limited (Fifth Defendant) Albany Capital Investors Pty Limited (Sixth Defendant) Representation: Counsel: Mr A Cheshire SC / Mr A Bhasin (Plaintiff) Mr T Boyle (First Defendant) Mr T Bagley (Second and Third Defendants) Mr G Ng / Mr R Sud (Fourth Defendant) Mr P Knowles (Fifth Defendant) Ms A Cameron (Sixth Defendant)