In the matter of Hydrodec Group Plc (No 2) [2021] NSWSC 1491

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Hydrodec Group Plc (No 2) [2021] NSWSC 1491 Hearing dates: On the papers Date of orders: 19 November 2021 Decision date: 19 November 2021 Jurisdiction: Equity - Corporations List Before: Williams J Decision: See [36] Catchwords: COSTS – whether monitors appointed to company pursuant to Insolvency Act 1986 (UK) should be jointly and severally liable with company for costs of unsuccessful application for recognition of moratorium under UK Act as a foreign main proceedings under Model Law on Cross-Border Insolvency – costs order made against joint monitors and company jointly and severally COSTS – application for gross sum costs order – whether costs estimated on a fair, logical and reasonable approach – order refused Legislation Cited: Civil Procedure Act 2005 (NSW), s 98(4)(c) Corporations Act 2001 (Cth), ss 466, 556(1)(b) Cross-Border Insolvency Act 2008 (Cth), s 6 Insolvency Act 1986 (UK) Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law, Arts 15, 17 Uniform Civil Procedure Rules 2005 (NSW), r 36.16 Cases Cited: In the matter of bCode Pty Limited and In the matter of bCode Middle East Africa Holdings Limited [2012] NSWSC 1530 In the matter of Hydrodec Group Plc [2021] NSWSC 755 National Australia Bank Limited v Sayed [2020] NSWSC 1316 Silvia & Anor v Brodyn Pty. Limited [2007] NSWCA 55 Southern Oil Refining Pty Ltd v Hydrodec Australia Pty Ltd [2021] NSWSC 24 Category: Costs Parties: 2021/87641: Southern Oil Refining Pty Ltd (ACN 065 279 012) (Plaintiff) Hydrodec Group Plc (Monitor Appointed) (Defendant)