Ranclose Investments Pty Ltd v Leda Management Services Pty Ltd & Anor [2021] NSWDC 651

District Court New South Wales

Medium Neutral Citation: Ranclose Investments Pty Ltd v Leda Management Services Pty Ltd & Anor [2021] NSWDC 651 Hearing dates: 12 and 30 November, 1 December 2021 Date of orders: 2 December 2021 Decision date: 02 December 2021 Jurisdiction: Civil Before: Gibson DCJ Decision: Order: (1) Refuse leave to the plaintiff to reopen its case; plaintiff's application for a further adjournment of the defendants' application is refused. (2) Statement of claim dismissed. (3) Cross-claim dismissed. (4) The plaintiff/ first cross-defendant, Ranclose Investments Pty Ltd, is to pay the costs of the claim and the cross-claim as agreed or assessed. Catchwords: COSTS – security for costs – plaintiff ordered to pay security for costs in two tranches totalling $150,000 – plaintiff brings application to vary the order to provide for five tranches of $30,000 – plaintiff fails to pay first $30,000 – application for dismissal of proceedings – plaintiff granted an extension of time to pay the first $30,000 but fails to do so - plaintiff fails to pay second tranche – defendants point to unlikelihood of plaintiff complying with the security orders in the future and to issues of prejudice – PRACTICE AND PROCEDURE – application by plaintiff to reopen its case after judgment reserved – application refused – statement of claim and cross-claim dismissed Legislation Cited: Corporations Act 2001 (Cth) s 127 Uniform Civil Procedure Rules 2005 (NSW) ("UCPR") rr 12.10 and 42.2(3) Civil Procedure Act 2005 (NSW) ss 56 and 66 Cases Cited: Ballard v Brookfield Australia Investments Ltd [2013] NSWCA 82 Bell Wholesale P/L v Gates Export Corporation Pty Ltd (No 2) [1984] FCA 29 Chandra v Perpetual Trustee Victoria Limited [2006] NSWSC 1046 City of Sydney Council v Satara [2007] NSWCA 148 Deputy Commissioner of Taxation v Liu (2012) 90 ATR 614 Farnell v Penhalluriack [2010] 29 VR 727 First Tiffany Resource Corporation v Hill End Gold Ltd [2014] NSWSC 1713 Gaskin v Ollerenshaw [2010] NSWSC 788 Idoport Pty Ltd v National Australia Bank Ltd [2002] NSWSC 18 Idoport Pty Ltd v National Australia Bank Pty Ltd [2002] NSWCA 271 In the matter of AAMAC Warehousing and Transport Pty Ltd (in liquidation) [2014] NSWSC 834 Kane v Wyllie [2006] NSWSC 710 Porter v Gordian Runoff Ltd (No 3) [2005] NSWCA 377 Ranclose Investment Pty Ltd v Leda Management Services Pty Ltd [2021] NSWDC 210 Ranclose Investments Pty Ltd v Leda Management Services Pty Ltd (No 2) [2021] NSWDC 288 Tjiong v Tjiong [2021] NSWSC 1389 Tripod Fund Management Pty Ltd v Shao [2014] NSWSC 1722 Urban Transport Authority of New South Wales v Nweiser (1992) 28 NSWLR 471 Vale v Vale [2001] NSWCA 245 Category: Procedural rulings Parties: Plaintiff: Ranclose Investments Pty Ltd Defendants: First Defendant: Leda Management Services Pty Ltd Second Defendant: Leda Holdings Pty Ltd