NSW Caselaw
New South Wales Supreme Court
CITATION : Traderight Pty Ltd v Bank of Queensland Ltd; Bank of Queensland Ltd v Traderight Pty Ltd; Jude Financial Services Pty Ltd v Bank of Queensland Ltd; Rossmick No 1 Pty Ltd v Bank of Queensland Ltd; Bank of Queensland Ltd v SME Business Assist Pty Ltd; Geraghty & Palmer Pty Ltd v Bank of Queensland Ltd; Best Deal Pty Ltd v Bank of Queensland Ltd; Southpole Financial Services Pty Ltd v Bank of Queensland Ltd; LJH Group Pty Ltd v Bank of Queensland Ltd; Shamarbre Pty Ltd v Bank of Queensland Ltd; Leokate Pty Ltd v Bank of Queensland [2010] NSWSC 1502
HEARING DATE(S) : 7 December 2010
JUDGMENT DATE : 22 December 2010
JURISDICTION : Equity
JUDGMENT OF : Ward J
DECISION : Bank of Queensland parties ordered to pay plaintiffs' costs on a party/party basis assessed and payable forthwith in relation to cross vesting application before Hamilton J. Subject to filing in court of written undertaking by IMF, application for security for costs dismissed. Conditional order for cross vesting of three guarantor proceedings to Supreme Court of Queensland, stayed pending further determination.
CATCHWORDS : PRACTICE and PROCEDURE - COSTS - application for costs consequent upon the determination by Hamilton J in November 2007 of a cross-vesting application in relation to Industrial Relations Commission proceedings - consideration of what is the "event" which costs should follow - HELD - BOQ parties should pay the OMB parties' costs of the cross-vesting applications before Hamilton J as assessed or agreed and payable forthwith - SECURITY FOR COSTS - application by BOQ parties for security for costs in relation to the Existing BOQ matters - consideration of effect of litigation funding arrangements in place - HELD - application dismissed subject to provision of a written undertaking by litigation funder to meet any adverse costs order that may be made in BOQ's favour - STRIKE OUT/STAY - application by the BOQ parties to strike out as an abuse of process or stay and/or cross-vest new proceedings which claims are subject of defences in the proceedings commenced by the Bank of Queensland in the Supreme Court of Queensland - application by OMB parties for new proceedings to be heard with existing proceedings - HELD - conditional order made for cross vesting of new OMB proceedings, stayed pending further order or determination by Court as to whether proceedings can be heard together
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