Sun Asia Group Pty Ltd ATF Sun Asia Group Trust v Invigor Group Ltd (No 2) [2022] NSWSC 815

Supreme Court New South Wales

Medium Neutral Citation: Sun Asia Group Pty Ltd ATF Sun Asia Group Trust v Invigor Group Ltd (No 2) [2022] NSWSC 815 Hearing dates: 10 June 2022 Date of orders: 20 June 2022 Decision date: 20 June 2022 Jurisdiction: Equity Before: Robb J Decision: See par 35 below Catchwords: COSTS — security for costs — quantum and form — Court earlier satisfied that security for costs ought to be provided by corporate plaintiffs — Court earlier considered that security ought to be provided by means of charge granted by first plaintiff over its shares in first defendant — subsequent change in position — suspension of trading of shares in first defendant lifts — market value of shares declines — security for costs ordered Legislation Cited: Corporations Act 2001 (Cth), s 1335 Uniform Civil Procedure Rules 2005 (NSW), r 42.21 Cases Cited: Interslice Pty Ltd v CCA Investments – Bass Hill Pty Ltd [2021] NSWSC 1578 Misthold Pty Ltd v NSW Historic Sites and Railway Heritage Company Pty Ltd [2022] NSWSC 42 Sun Asia Group Pty Ltd ATF Sun Asia Group Trust v Invigor Group Ltd [2021] NSWSC 1082 Category: Procedural rulings Parties: Sun Asia Group Pty Ltd ATF Sun Asia Group Trust (First Plaintiff/Respondent) Sunasia Farm No 10 Pty Ltd (receivers & managers appointed) (Second Plaintiff/Respondent) Sun Asia Corporation Pty Ltd (receivers & managers appointed) (Third Plaintiff/Respondent) Geoffrey Anthony Shannon (Fourth Plaintiff) Nationlink Solutions Pty Ltd (Fifth Plaintiff/Respondent) Emerald Affordable Accommodation Pty Ltd (Sixth Plaintiff/Respondent) Invigor Group Ltd (First Defendant/Applicant) Nehoc Investments Pty Ltd (Second Defendant/Applicant) Gary Michael Cohen (Third Defendant/Applicant) Gregory Hyam Cohen (Fourth Defendant/Applicant) Michael Craig Brereton (Fifth Defendant) Robert William Whitton (Sixth Defendant) Sean Magnus Wengel (Seventh Defendant) Marcel Equity Pty Ltd (Eighth Defendant/Applicant) Representation: Counsel: B K Nolan (Plaintiffs/Respondents) T Rogan & M Rose (First, Third and Eighth Defendants/Applicants) M Sheldon (Second and Fourth Defendants/Applicants)