Aurora Australasia Pty Ltd v Hunt Prosperity Pty Ltd trading as trustee of the Aurora Australasia Investment Fund Unit Trust (No 2) [2024] NSWSC 1210

Supreme Court New South Wales

Medium Neutral Citation: Aurora Australasia Pty Ltd v Hunt Prosperity Pty Ltd trading as trustee of the Aurora Australasia Investment Fund Unit Trust (No 2) [2024] NSWSC 1210 Hearing dates: On the papers; submissions 6 September 2024 Date of orders: 26 September 2024 Decision date: 26 September 2024 Jurisdiction: Equity - Expedition List Before: Rees J Decision: Costs orders made. Catchwords: COSTS – proceedings change significantly from inception to conclusion – application for trustee to process request for redemption of units and for removal of trustee – cross-claim that units the subject of equitable charge and to injunct redemption – trustee steps down without admission – equitable charge established and injunction ordered – partial success by plaintiff on remaining claim while other claims not pressed – Lai Qin – costs apportioned based on relative success – no issue of principle. Legislation Cited: Corporations Act 2001 (Cth), s 461(1)(k) Trustee Act 1925 (NSW), s 63(1) Uniform Civil Procedure Rules 2005 (NSW), rr 31.15, 42.1, 55.6(e)-(f), 55.7 Cases Cited: Aurora Australasia Pty Limited v Hunt Prosperity Pty Limited [2024] NSWSC 195 Aurora Australasia Pty Ltd v Hunt Prosperity Pty Ltd (Costs) [2024] NSWSC 756 Aurora Australasia Pty Ltd v Hunt Prosperity Pty Ltd trading as trustee of the Aurora Australasia Investment Fund Unit Trust [2024] NSWSC 1054 Aurora Australia Pty Ltd v Hunt Prosperity Pty Ltd [2024] NSWSC 680 Carborundum Abrasives Ltd v Bank of New Zealand (No 2) [1992] 3 ZLR 757 FPM Constructions Pty Ltd v Council of the City of Blue Mountains [2005] NSWCA 340 In the matter of Austec Wagga Wagga Pty Ltd (In Liq) [2018] NSWSC 1476 In the matter of Glen Elgin Retreat Pty Limited [2019] NSWSC 1395 James v Surf Road Nominees Pty Ltd (No 2) [2005] NSWCA 296 Knight v FP Special Assets Ltd (1992) 174 CLR 178 MG Corrosion Consultants Pty Ltd v Vinciguerra (No 2) (2011) 276 ALR 319 Nichols v NFS Agribusiness Pty Ltd (2018) 97 NSWLR 681 Oz B & S Pty Ltd v Elders IXL Ltd (1993) 117 ALR 128 Paramount Lawyers Pty Ltd v Haffar (No 2) [2016] NSWSC 906 Re Minister for Immigration and Ethnic Affairs (Cth); Ex Parte Lai Qin (1997) 186 CLR 622; [1997] HCA 6 Sassine v Ray & Sons Construction Pty Ltd [2012] NSWSC 1307 Sydney Markets Credit Services Co-operative Ltd v Taylor (No 3) [2015] NSWSC 1236 Tomanovic v Global Mortgage Equity Corporation Pty Ltd (No 2) (2011) 86 ACSR 119; [2011] NSWCA 256 Vestris v Cashman (1998) 72 SASR 449 VMA Companies LLC (t/as Corbis Global) v Ridley Capital Holdings Pty Ltd [2016] NSWSC 1567 Category: Costs Parties: Aurora Australasia Pty Ltd (Plaintiff / First Cross-Defendant) Hunt Prosperity Pty Ltd (First Defendant / Second Cross-Defendant) AMHP Pty Ltd (Second Defendant / First Cross-Claimant) Adam Hartley (Second Cross-Claimant) David Driver (Third Cross-Defendant) Representation: Counsel: M Elliott SC (Plaintiff / First and Third Cross-Defendants) D Sulan SC / S Murray (First Defendant / Second Cross-Defendant) AL Connolly (Second Defendant / Cross-Claimants)