LRSM Enterprise Pty Ltd v Zurich Australia Insurance Ltd [2013] NSWSC 324

Supreme Court New South Wales

Medium Neutral Citation: LRSM Enterprise Pty Ltd v Zurich Australia Insurance Ltd [2013] NSWSC 324 Hearing dates: 14 March 2013; 9 April 2013 Decision date: 10 April 2013 Before: Adamson J Decision: (1) Order that, within 14 days of the date of this order, 9 April 2013, the plaintiff provide security for costs by payment of the sum of $233,000 to the Registrar of the Supreme Court (Common Law Division) or in such other manner as may be agreed between the parties. (2) Order that the proceedings be stayed until such security is given. (3) Order the respondent/ plaintiff to pay the defendant/ applicant's costs of the motion. Catchwords: PROCEDURE-security for costs-factors relevant to the exercise of discretion- delay-whether claim made in good faith- whether order would stultify proceedings - evidence of capacity of creditors to provide security Legislation Cited: - Corporations Act 2001 (Cth), s 1335 - Uniform Civil Procedure Rules r. 42.21(1)(d) Cases Cited: - Bell Wholesale Co Ltd v Gates Export Corporation (No 2) (1984) 2 FCR 1 - Briginshaw v Briginshaw [1938] HCA 34; 60 CLR 336 - Classic Ceramic Importers Pty Limited v Ceramica Antiga SA (1994) 13 ACSR 263 - Equity Access Ltd v Westpac Banking Corporation [1989] ATPR 40-972 - Fiduciary Limited v Morningstar Research Pty Limited [2004] NSWSC 664; 208 ALR 564 - Green (as liquidator of Arimco Mining Pty Ltd) v CGU Insurance Ltd [2008] NSWCA 148; 67 ACSR 105 - Hession v Century 21 South Pacific (in liq) (1992) 28 NSWLR 120 - KP Cable Investments Pty Ltd v Meltglow Pty Ltd (1995) 56 FCR 189 - Onassis and Calogeropoulos v Vergottis [1968] 2 Lloyd's Rep 403 - Pioneer Park v Australia and New Zealand Banking Corporation [2007] NSWCA 344; 65 ACSR 383 - Prynew Pty Ltd v Nemeth [2010] NSWCA 94 - Sir Lindsay Parkinson & Co. Ltd v Triplan Limited [1973] 2 All ER 273 - Southern Cross Exploration NL v Fire & All Risks Insurance Co Ltd (1985) 1 NSWLR 114 - Wollongong City Council v Legal Business Centre Pty Ltd [2012] NSWCA 245 - Woon v The Queen [1964] HCA 23; 109 CLR 529 Category: Interlocutory applications Parties: LRSM Enterprise Pty Ltd (Plaintiff/Respondent) Zurich Australia Insurance Ltd (Defendant/Applicant) Representation: Counsel: BJ Gross QC and DJ Williams (Plaintiff/Respondent) DE Grieve QC and RA O'Keefe (Defendant/Applicant) Solicitors: Kheir Lawyers (Plaintiff/Respondent) Vardanega Roberts Solicitors (Defendant/Applicant) File Number(s): 2008/317328