TMCM Enterprises Pty Ltd (in liquidation) v The Owners - Strata Plan No 78894 [2023] NSWSC 1637

Supreme Court New South Wales

Medium Neutral Citation: TMCM Enterprises Pty Ltd (in liquidation) v The Owners - Strata Plan No 78894 [2023] NSWSC 1637 Hearing dates: 4 December 2023 Date of orders: 21 December 2023 Decision date: 21 December 2023 Jurisdiction: Common Law Before: Wright J Decision: (1) The second plaintiff, Global Investment Group Holdings Pty Ltd, is to give security for the first defendant's costs in the amount of $65,000.00, security for the second defendant's costs in the amount of $65,000.00, and security for the third defendant's costs in the amount of $90,000.00, such security to be provided in a form agreed between the relevant parties or, in the absence of agreement, by payment into Court. (2) The proceedings are stayed until such time as each amount of security referred to in order (1) has been provided. (3) The plaintiff is to pay the defendants' costs of the defendants' notices of motion seeking security for costs. Catchwords: COSTS – security for costs – whether power to order security engaged – factors relevant to the exercise of discretion in relation to security for costs – where financial circumstances of plaintiff not in evidence – where no relevant delay in bringing application for security – plaintiff to provide security for costs Legislation Cited: Civil Procedure Act 2005 (NSW), ss 57,58, 67 Corporations Act 2001 (Cth), s 1335 Uniform Civil Procedure Rules 2005 (NSW), r 42.21 Cases Cited: Cornelius v Global Medical Solutions Australia Pty Ltd [2014] NSWCA 65; 32 ACLC 14-010 De Jong v Carnival PLC [2016] NSWSC 347 Haselhurst v Toyota Motor Corporation Australia Ltd t/as Toyota Australia [2020] NSWSC 1607 Category: Procedural rulings Parties: TMCM Enterprises Pty Ltd (First Plaintiff) Global Investment Group Holdings Pty Ltd (Second Plaintiff) The Owners – Strata Plan No 78894 (First Defendant) Strata Community Insurance Agencies Pty Ltd (Second Defendant) KatzBergin Loss Adjusters Pty Ltd (Third Defendant) Representation: Counsel: S Scevola (Second Plaintiff) C Purdy (First Defendant) S Ahmed (Second Defendant) S Walsh (Third Defendant)