Anchorage Capital Master Offshore Ltd v Sparkes (No 4); Bank of Communications Co Ltd v Sparkes (No 3) [2021] NSWSC 1695

Supreme Court New South Wales

Medium Neutral Citation: Anchorage Capital Master Offshore Ltd v Sparkes (No 4); Bank of Communications Co Ltd v Sparkes (No 3) [2021] NSWSC 1695 Hearing dates: 14 December 2021 Decision date: 24 December 2021 Jurisdiction: Equity - Commercial List Before: Ball J Decision: (1) In proceeding 2018/104383: (a) the plaintiffs pay the defendants' costs on the ordinary basis up until 5 March 2021 and on an indemnity basis on and from 6 March 2021; (b) the cross-claimant pay the cross-defendants' costs on the ordinary basis; (2) In proceeding 2019/316305: (a) the plaintiffs pay the defendants' costs on the ordinary basis up until 5 March 2021 and on an indemnity basis on and from 6 March 2021; (b) the cross-claimant pay the cross-defendants' costs on the ordinary basis. Catchwords: COSTS — Informal offers of compromise — Whether offers to settle were genuine offers of compromise — Whether plaintiffs had sufficient time to consider the offers Legislation Cited: Civil Procedure Act 2005 (NSW) Cases Cited: Anchorage Capital Master Offshore Ltd v Sparkes (No 3); Bank of Communications Co Ltd v Sparkes (No 2) [2021] NSWSC 1025 Furber v Stacey [2005] NSWCA 242 GEC Marconi Systems Pty Ltd v BHP Information Technology Pty Ltd [2003] FCA 688, (2003) 201 ALR 55 Hazeldene's Chicken Farm Pty Ltd v Victorian WorkCover Authority (No 2) [2005] VSCA 298; 13 VR 435 Hobartville Stud Pty Ltd v Union Insurance Co Ltd (1991) 25 NSWLR 358 Leichhardt Municipal Council v Green [2004] NSWCA 341 Miwa Pty Ltd v Siantan Properties Pte Ltd (No 2) [2011] NSWCA 344 Category: Costs Parties: 2018/104383 Anchorage Proceeding