In the matter of Pacific Springs Pty Ltd [2021] NSWSC 66

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Pacific Springs Pty Ltd [2021] NSWSC 66 Hearing dates: On the papers Date of orders: 10 February 2021 Decision date: 10 February 2021 Jurisdiction: Equity - Corporations List Before: Rees J Decision: Order indemnity costs from non-acceptance of third without prejudice offer. Catchwords: COSTS – Calderbank offers – plaintiffs sought correction of share register – shares of nominal value – defendant makes 'walk away' offer on Friday expiring on Monday – plaintiffs live overseas, not fluent in English and unfamiliar with Australian legal processes – rejection of offer not unreasonable – defendants' evidence served – mediation – defendant offers $200,000 – rejection of third offer unreasonable – no question of principle. Legislation Cited: Corporations Act 2001 (Cth) s 237 Uniform Civil Procedure Rules 2005 (NSW) rr 20.26, 42.19(2) Cases Cited: Atton v National Mutual Life Association of Australasia (No 2) [2007] NSWSC 348 Baulderstone Hornibrook Engineering Pty Limited v Gordian Runoff Limited (No 2) [2009] NSWCA 12 Calderbank v Calderbank [1975] 3 All ER 333 Degmam Pty Ltd (in liq) v Wright (No 2) [1983] 2 NSWLR 354 Fan v Han (No 2) [2016] NSWSC 1651 Fan v Han (No 2) [2016] NSWSC 1651 Grant v John Grant & Sons Pty Ltd (1950) 82 CLR 1 Grimaldi v Chameleon Mining NL and Another (No 2) (2012) 200 FCR 296 In the matter of Indoor Climate Technologies Pty Ltd [2019] NSWSC 356 In the matter of Pacific Springs Pty Limited (No 2) [2019] NSWSC 1183 In the matter of Pacific Springs Pty Limited [2020] NSWSC 1240 Kooee Communications Pty Ltd v Primus Telecommunications Pty Ltd (No 2) [2008] NSWCA 85 Leda v Weerden (No 3) [2006] NSWSC 220 Maule v Liporoni (No 2) [2002] NSWLEC 140; (2002) 122 LGERA 216 Ngurli Ltd v McCann (1953) 90 CLR 425 Perisher Blue Pty Ltd v Nair-Smith (No 2) [2015] NSWCA 268 Perisher Blue Pty Ltd v Nair-Smith (No 2) [2015] NSWCA 268 Residues Treatment & Trading Co Ltd v Southern Resources Ltd (No 4) (1988) 14 ACLR 569 Texts Cited: Stapledon, G P, "Locus Standi of Shareholders to Enforce the Duty of Company Directors to Exercise the Share Issue Power for Proper Purposes" (1990) 8 Company and Securities Law Journal 213 Category: Costs Parties: Gani Mualim (First Plaintiff) Jorida Mualim (Second Plaintiff)