Yan v Yangdo Pty Ltd (No 2) [2024] NSWSC 1405

Supreme Court New South Wales

Medium Neutral Citation: Yan v Yangdo Pty Ltd (No 2) [2024] NSWSC 1405 Hearing dates: On the papers; last submissions 25 October 2024 Date of orders: 6 November 2024 Decision date: 06 November 2024 Jurisdiction: Equity - Expedition List Before: Rees J Decision: Costs orders made. Catchwords: COSTS – expert determination of buy-out price – expert issues valuation, identifies error and issues second valuation – resulting $10 million difference in buy-out price – each party supports the valuation which favours them at trial – neither valuation held to be binding – parties to pay their own costs. Legislation Cited: Civil Procedure Act 2005 (NSW), s 98 Uniform Civil Procedure Rules (2005 (NSW), r 42.1 Cases Cited: James v Surf Road Nominees Pty Ltd (No 2) [2005] NSWCA 296 ONE.TEL Ltd v Deputy Commissioner of Taxation (2000) 101 FCR 548 Re Minister for Immigration & Ethnic Affairs; Ex parte Lai Qin (1997) 186 CLR 622 Ryde Developments Pty Ltd v Property Investors Alliance Pty Ltd (No 2) [2018] NSWCA 40 Category: Costs Parties: Philip Kam Hung Yan (First Plaintiff/Fourth Cross-Defendant) Amelia Shu Man Yan (Second Plaintiff/Fifth Cross-Defendant) Fincob Pty Ltd (Third Plaintiff/Sixth Cross-Defendant) Yangdo Pty Ltd (First Defendant/First Cross-Defendant) Kam Wing Yan (Second Defendant/Second Cross-Claimant) Yangdo Service Pty Ltd (Third Defendant/Second Cross-Defendant) Pengie Pty Ltd (Fourth Defendant/Third Cross-Defendant) Penlop Pty Ltd (Fifth Defendant/First Cross-Claimant) Representation: Counsel: R Dick SC / P Gaffney (Plaintiffs) P Knowles SC / K Josifoski (Second and Fifth Defendants) Solicitors: Bartier Perry (Plaintiffs) Project Lawyers (Second and Fifth Defendants) File Number(s): 2024/211869