Buckingham Gate International Pty Ltd v Australia New Zealand Banking Group Limited; MWW Baker Pty Ltd v Australia New Zealand Banking Group Limited; Jasorc Pty Ltd v Australia New Zealand Banking Group Limited; 300 Queen Street Plaza Pty Ltd v Australia New Zealand Bankin Group Limited; Klego Pty Ltd as Trustee for The Lamont Family Trust v Australila New Zealand Banking Group Limited; Klego Pty Ltd v Australia New Zealand Banking Group Limited [2000] NSWSC 946

Reported Decision : [2000] 35 ACSR 411

New South Wales Supreme Court

CITATION : Buckingham Gate International Pty Ltd v Australia New Zealand Banking Group Limited; MWW Baker Pty Ltd v Australia New Zealand Banking Group Limited; Jasorc Pty Ltd v Australia New Zealand Banking Group Limited; 300 Queen Street Plaza Pty Ltd v Australia New Zealand Bankin Group Limited; Klego Pty Ltd as Trustee for The Lamont Family Trust v Australila New Zealand Banking Group Limited; Klego Pty Ltd v Australia New Zealand Banking Group Limited [2000] NSWSC 946 revised - 10/10/2000 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 3072/00; 3126/00; 3233/00; 3235/00; 3234/00; 3236/00 HEARING DATE(S) : 3 October 2000 JUDGMENT DATE : 3 October 2000

Buckingham Gate International Pty Ltd (Plaintiff) Australia New Zealand Banking Group Limited (Defendant) MWW Baker Pty Ltd (Plaintiff) Australia New Zealand Banking Group Limited (Defendant) Jasorc Pty Ltd (Plaintiff) PARTIES : Australia New Zealand Banking Group Limited (Defendant) 300 Queen Street Plaza Pty Ltd (Plaintiff) Australia New Zealand Banking Group Limited (Defendant) Klego Pty Ltd as Trustee for The Lamont Family Trust (Plaintiff) Australia New Zealand Banking Group Limited (Defendant) Klego Pty Ltd (Plaintiff) Australia New Zealand Banking Group Limited (Defendant) JUDGMENT OF : Santow J

COUNSEL : W Levick (Solicitor) (Plaintiffs) P Dowdy (Defendant) SOLICITORS : Wayne Levick & Associates (Plaintiffs) Coudert Brothers (Defendant) CATCHWORDS : CORPORATIONS LAW — Constitutionality — Not affected by evolving sovereignty of Commonwealth — Independent basis in s7 of Corporations (NSW) Act under State legislative power — NSW as a state did not cease to exist with change in its sovereignty — Indemnity cost orders against legal practitioner under Pt 52A r43 — Observations about repeated putting of variants of the same untenable submissions and the lack of deterrence in those cost orders. Australia Acts 1986 Commonwealth of Australia Constitution Act 1900, s8 LEGISLATION CITED : Corporations Act s82 Corporations (NSW) Act 1990, s7 Corporations Law Supreme Court Rules Pt 52A r43 Deputy Commissioner of Taxation -v- Levick 168 ALR 383; Greer –v- Deputy Commissioner of Taxation, High Court of Australia S33/199 (26 April 2000) Joose & Anor v ASIC [1998] HCA 77 CASES CITED : Levick -v- Deputy Commissioner of Taxation [2000] FCA 674 (23 May 2000); McKewins Hairdressing and Beauty Supplies Pty Limited –v- Deputy Commissioner of Taxation [2000] HCA 27 (5 May 2000); Poonon –v- Deputy Commissioner of Taxation [1999] NSWSC 1121 (11 November 1999). Street v Queensland Bar Association (1989) 168 CLR 461 DECISION : Application dismissed. Indemnity costs awarded.