In the matter of BZI Pty Limited [2011] NSWSC 1550

Supreme Court New South Wales

Medium Neutral Citation: In the matter of BZI Pty Limited [2011] NSWSC 1550 Hearing dates: 12 December 2011 Decision date: 15 December 2011 Jurisdiction: Equity Division - Corporations List Before: Ball J Decision: (1)Subject to orders (2) and (3), each party bear his or its own costs of these proceedings; (2)The plaintiff pay the first defendant's costs of and incidental to the application for costs heard on 12 December 2011, other than the costs of the first and fourth defendants' motion filed on 12 December 2011. (3)The first defendant pay the plaintiff's costs of the first and fourth defendants' motion filed on 12 December 2011. Catchwords: CORPORATIONS - application for costs of proceedings under s 1323 of the Corporations Act 2001 - asset preservation orders - whether ASIC should get costs where asset preservation orders obtained in aid of proceedings which are settled - each party bear own costs Legislation Cited: Corporations Act 2001 (Cth) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: ASIC v Banovec (Supreme Court of New South Wales, White J, 5 September 2007 unreported) ASIC v Banovec (No 2) [2007] NSWSC 961 ASIC v Bounard (Supreme Court of New South Wales, Barrett J, 3 November 2007 unreported) ASIC v Groves [2009] FCA 915 ASIC v Krecichwost [2008] NSWSC 855 Category: Costs Parties: Australian Securities and Investments Commission (Plaintiff) Andrew Sigalla (First Defendant) John Falconer (Second Defendant) Michael Otten (Third Defendant) BZI Pty Limited (Fourth Defendant) Dunbar Associates Pty Ltd (in liquidation) (Fifth Defendant) Representation: Mr D R Stack (Plaintiff) In Person (First Defendant) Australian Securities & Investments Commission (Plaintiff) In Person (First Defendant) File Number(s): 2009/290316