In the matter of Atlas Advisors Australia Pty Ltd [2022] NSWSC 870

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Atlas Advisors Australia Pty Ltd [2022] NSWSC 870 Hearing dates: Written submissions as to orders and costs, 17 and 22 June 2022. Date of orders: 30 June 2022 Decision date: 30 June 2022 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made as to damages and costs. Catchwords: CORPORATIONS — Financial services — Misleading or deceptive conduct — Damages — Where plaintiff succeeded on a "no transaction" case in relation to an investment which produced returns COSTS — Party/Party — General rule that costs follow the event — Application of the rule and discretion — Where the successful parties only succeeded on narrow grounds and the claims on which they failed took up substantial time at the hearing. Legislation Cited: - Civil Procedure Act 2005 (NSW), s 86(2), s 100. - Corporations Act 2001 (Cth), s 1041H(1) - Uniform Civil Procedure Rules 2005 (NSW), r 42.1 Cases Cited: - Attorney-General (NSW) (Ex rel Corporate Affairs Commission) v Australian Softwood Forests Pty Ltd [1979] 2 NSWLR 73 - Bostik Australia Pty Ltd v Liddiard (No 2) [2009] NSWCA 304 - Coyte v Norman; Centre Capital (Newcastle) Pty Ltd v B Scorer [2016] NSWSC 142 - E & J Gallo Winery v Lion Nathan Australia Pty Ltd (No 2) [2009] FCAFC 47 - Harpley v Australian Lending Investment Pty Ltd [2019] NSWSC 1810 - Jones v Sutton (No 2) [2005] NSWCA 203 - JR Consulting & Drafting Pty Ltd v Cummings [2014] NSWSC 1700 - Lukaszewicz v Polish Club Limited [2019] NSWSC 860 - Mobis Parts Australia Pty Ltd v XL Insurance Company SE (No 2) [2019] NSWCA 19 - Neeta (Epping) Pty Ltd v Phillips [1974] HCA 18; (1974) 131 CLR 286 - OXS Pty Ltd v Sydney Harbour Foreshore Authority and Minister for Planning and Environment [2014] NSWSC 1284 - OXS Pty Ltd v Sydney Harbour Foreshore Authority [2016] NSWCA 120 - Re Metal Storm Ltd (subject to deed of company arrangement) [2014] NSWSC 1170 - Ryde Developments Pty Ltd v The Property Investors Alliance Pty Ltd (No 2) [2018] NSWCA 40 - Waterman v Gerling Australia Insurance Co Pty Ltd (No 2) [2005] NSWSC 1111 Texts Cited: - PW Young, C Croft and ML Smith, On Equity (Lawbook Co, 2009) Category: Costs Parties: Tredmore Pty Ltd as trustee for the Xue Family Trust (First Plaintiff) Lijuan Xue (Second Plaintiff) Lili Xue (Third Plaintiff) Atlas Advisors Australia Pty Ltd (First Defendant) Wenyan Zhuang also known as Fiona Zhuang (Second Defendant) Representation: Counsel: E Young (Plaintiffs) P Knowles (Defendants)