Hunter Business Finance Pty Ltd v Australian Commercial and Equipment Finance Pty Ltd [2010] NSWCA 133

New South Wales Court of Appeal

CITATION: Hunter Business Finance Pty Ltd v Australian Commercial and Equipment Finance Pty Ltd [2010] NSWCA 133

HEARING DATE(S): 31 May 2010 JUDGMENT OF: Giles JA

EX TEMPORE JUDGMENT DATE: 31 May 2010

DECISION: (1) Order that within 21 days the appellant pay into court or otherwise provide to the satisfaction of the respondents security of $100,000 for the respondents' costs of the appeal. (2) Order that in the event that the security is not paid into court or provided within the said 21 days, the appeal be stayed. (3) Appellant pay the respondents' costs of this application.

CATCHWORDS: PRACTICE AND PROCEDURE - costs - security for costs under Corporations Act 2001 (C'th) s1335 - whether credible testimony that there is reason to believe appellant unable to pay respondents' costs if unsuccessful - on facts credible testimony found - consideration of amount of security - no reason to order security in a lower figure.

CASES CITED: Nichols v Michael Wilson and Partners Limited [2010] NSWCA 100.

PARTIES: Hunter Business Finance Pty Ltd - Appellant Australian Commercial and Equipment Finance Pty Ltd - Respondent

FILE NUMBER(S): CA 2000/38229

COUNSEL: G Laughton SC & T Catanzariti - Appellant H Stowe - Respondent

SOLICITORS: Gells Lawyers - Appellant Mason Lawyers, Newcastle - Respondent

LOWER COURT JURISDICTION: Supreme Court

LOWER COURT FILE NUMBER(S): SC 5022/00

LOWER COURT JUDICIAL OFFICER: Gzell J

LOWER COURT DATE OF DECISION: 19 March 2003

LOWER COURT MEDIUM NEUTRAL CITATION: Hunter Business Finance v Australian Business and Equipment Finance and Ors [2003] NSWSC 122