V & M Davidovic Pty Limited v Professional Services Group Pty Limited [2012] NSWSC 627

Supreme Court New South Wales

Medium Neutral Citation: V & M Davidovic Pty Limited v Professional Services Group Pty Limited [2012] NSWSC 627 Hearing dates: 31/5/2012 Decision date: 12 June 2012 Jurisdiction: Common Law Before: Harrison AsJ Decision: (1) The plaintiff is to provide security for costs in the sum of $70,000. (2) The security is to be in such form as the registrar determines. (3) The proceedings are stayed until such security is provided. (4) The plaintiff is to pay the defendant's costs as agreed or assessed. Catchwords: SECURITY FOR COSTS - defendant seeks security for costs - plaintiff company with receiver and manager appointed - professional negligence claim - whether security is necessary - whether proceedings should be stayed until security is provided Legislation Cited: Corporations Act 2001 (Cth) Uniform Civil Procedure Rules Cases Cited: Gartner v Ernst & Young [2003] FCA 152 KP Cable Investments Pty Ltd v Meltglow Pty Ltd (1995) 56 FCR 189 Narradine Pty Ltd & Anor v Mascot Steel and Tools Pty Ltd & Ors [2012] NSWSC 385 Prynew Pty Ltd v Nemeth [2010] NSWCA 94 Transocean Capital Pty Ltd v AFSIG Pty Ltd [2006] NSWSC 806 V & M Davidovic Pty Limited v Professional Services Group t/as Rosier Partners Lawyers [2012] NSWSC 134 Category: Procedural and other rulings Parties: V & M Davidovic Pty Limited (Plaintiff) Professional Services Group Pty Limited (Defendant) Representation: Counsel: Solicitors: File Number(s): 2011/239783