Hutchison v Hillcrest Litigation Services Limited [2010] NSWSC 934

New South Wales Supreme Court

CITATION : Hutchison v Hillcrest Litigation Services Limited [2010] NSWSC 934

HEARING DATE(S) : 09 August 2010

JUDGMENT DATE : 23 August 2010

JURISDICTION : Equity

JUDGMENT OF : White J

DECISION : Refer to paras [75]-[77] of judgment.

CATCHWORDS : CORPORATIONS – determination of separate questions – where plaintiffs entered into litigation funding agreement with defendant in respect of company's arbitration proceedings – questions of construction of funding agreement – whether funding agreement contained implied term that defendant would act reasonably in determining whether to agree to particular fees or disbursements being recoverable as "Insolvency Practitioner's Fees and disbursements" – whether funding agreement void for uncertainty if power to give or refuse agreement to particular expense not qualified by implied term to act reasonably – no question of principle - CORPORATIONS – application for leave nunc pro tunc pursuant to Corporations Act 2001 (Cth), s 477(2B) approving liquidators' entry into costs agreement with firm of solicitors – whether to make an order under s 1322(4)(d) extending time for applying for approval – appropriate form of orders

LEGISLATION CITED : Commercial Arbitration Act 1984 (NSW) Corporations Act 2001 (Cth)

Auburn Council v Austin Australia Pty Limited (in liquidation) [2007] NSWSC 130 Re GA Listing and Maintenance Pty Ltd (1994) 15 ACSR 308 CASES CITED : Empire (Aust) Nominees Pty Ltd v Vince [2000] VSC 324; (2000) 18 ACLC 738 Re Read [2007] FCA 1985; (2007) 164 FCR 237 Chamberlain v RG & H Investments Pty Ltd (ACN 000 599 477) [2009] FCA 1531; (2009) 76 ACSR 415 BP Refinery (Westernport) Pty Ltd v Shire of Hastings (1977) 180 CLR 266