Motor Trade Finances Prestige Leasing P/L v Elderslie Finance Corporation Ltd & 2 Ors [2005] NSWSC 921

New South Wales Supreme Court

Motor Trade Finances Prestige Leasing P/L v Elderslie Finance Corporation Ltd & 2 Ors [2005] NSWSC 921 CITATION : This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 02/09/05

JUDGMENT DATE : 2 September 2005

JUDGMENT OF : White J

DECISION : See para 32 of judgment.

CATCHWORDS : PRACTICE AND PROCEDURE - Security for costs - Plaintiff is a special purpose vehicle and lacks assets to pay defendants' costs - Prior application for security for costs was settled by consent orders - Where plaintiff provided security of $50,000 under consent orders - Whether consent orders were a compromise of the claim for security for the whole litigation or up to mediation only - No evidence that plaintiff's sole shareholder would be unable to provide any security ordered - Quantum of security where junior solicitor's hourly rate more than that of senior counsel - Held that consent orders applied only in respect of costs up to conclusion of mediation - Further security for costs ordered.

Trade Practices Act 1974 (Cth) LEGISLATION CITED : Fair Trading Act 1987 (NSW)

CASES CITED : Bell Wholesale Company Pty Limited v Gates Export Corporation No. 2 (1984) 2 FCR 1

Motor Trade Finances Prestige Leasing Pty Ltd PARTIES : v Elderslie Finance Corporation Ltd & 2 Ors

FILE NUMBER(S) : SC 50064/05

Plaintiff: Miss J E Richards COUNSEL : Defendants: Mr CRC Newlinds SC & Ms T Wong

Plaintiff: Abbot Tout SOLICITORS : Defendant: Clayton Utz

LOWER COURT JURISDICTION :

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION COMMERCIAL LIST