Chapel Road Pty Limited v Australian Securities Investments Commission (No 6) [2012] NSWSC 511

Supreme Court New South Wales

Medium Neutral Citation: Chapel Road Pty Limited v Australian Securities Investments Commission (No 6) [2012] NSWSC 511 Hearing dates: 15 March 2012, 24 April 2012 Decision date: 17 May 2012 Jurisdiction: Common Law Before: Schmidt J Decision: 1. The defendant's motion is dismissed. 2. Mr Bennett's undertaking is accepted. 3. Unless the parties approach within 14 days to be heard on the question of costs, the court's order will be that the defendant bear the plaintiff's costs of the motion, as agreed or assessed. Catchwords: PROCEDURE - costs - notice of motion - order seeking further security for costs - whether order for security would stultify the proceedings - case is bona fide - relevant tests - undertaking by individual - individual a substantial shareholder - no further order as to past costs - future costs - undertaking accepted - order sought refused - motion dismissed - costs Legislation Cited: Uniform Civil Procedure Rules 2005 Cases Cited: Cameron's Unit Services Pty Ltd v Kevin R Whelpton & Associates (Australia) Pty Ltd (1986) 13 FCR 46 Chapel Road Pty Limited v Australian Securities Investments Commission [2011] NSWSC 419 Jazabas Pty Ltd v Haddad [2007] NSWCA 291 KP Cable Investments Pty Ltd v Meltglow Pty Ltd (1995) 56 FCR 189 Pioneer Park Pty Ltd (in liq) v ANZ Banking Group Ltd [2007] NSWCA 344; (2007) 25 ACLC 1,707 Sharjade v Darwinia Estate [2006] NSWSC 708 Tim Barr Pty Ltd v Narui Gold Coast Pty Ltd [2009] NSWSC 563 Category: Procedural and other rulings Parties: Chapel Road Pty Limited (Plaintiff) Australian Securities Investments Commission (Defendant) Representation: Counsel: Mr B Toomey QC (Plaintiff) Mr J Clarke (Defendant) Solicitors: Creagh & Creagh (Plaintiff) Ashurst Australia (Defendant) File Number(s): 2006/266784 Publication restriction: None