NSW Caselaw
New South Wales Supreme Court
CITATION : Lewis v Nortex Pty Ltd (In Liq); Lamru Pty Ltd v Kation Pty Ltd [2006] NSWSC 480
HEARING DATE(S) : 18 – 21, 24, 26 – 28 April and 1 – 3 May 2006
JUDGMENT DATE : 23 May 2006
JURISDICTION : Equity
JUDGMENT OF : Hamilton J
DECISION : Form of declarations settled; that Lewis should be ordered to pay interest on the sums he is ordered to pay to reconstitute the Nortex Unit Trust fund calculated at the rates specified in Schedule 5 to the Rules and compounded on annual rests; that Kation and Lewis be ordered to pay 70 per cent of Lamru's costs of both sets of proceedings; that as between Lamru and the Liquidator there be no order as to the costs of the proceedings; and that the Liquidator may have his costs of the proceedings out of the assets of the company.
CATCHWORDS : INTEREST [21] – Where equitable relief or fiduciary relationship – Generally – Simple or compound interest – Rate – Money repayable to trust estate – When commercial rate applicable - PROCEDURE [553], [573] - Costs - General rule - Costs follow the event - Costs of whole action - Generally - Plaintiff generally successful - Defendants win on some issues - Departing from the general rule - Powers of court - Relevant principle - Whether claims distinct - Whether issues intertwined - PROCEDURE [565] - Costs - General rule - Costs out of a fund - When costs allowed out of fund - Benefit of estate - Defendant defending proceedings for own benefit rather than benefit of estate - PROCEDURE [743] – Miscellaneous procedural matters – Declarations – Jurisdiction – Limitation on Court's jurisdiction – Discretionary power not to be fettered by laying down rules – Confined only by bounds of judicial power.
Civil Procedure Act 2005 s 98 Corporations Law s 1321 LEGISLATION CITED : Supreme Court Act 1970 ss 63, 76 Supreme Court Rules 1970 Part 52A rr 11, 42, Schedule J Trustee Act 1925 s 63 Uniform Civil Procedure Rules 2005 rr 42.1, 42.7, 42.25, Schedule 5
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