Maecher Pictureproducts Pty Ltd v R E Davison Pty Ltd [2013] NSWSC 352

Supreme Court New South Wales

Medium Neutral Citation: Maecher Pictureproducts Pty Ltd v R E Davison Pty Ltd [2013] NSWSC 352 Hearing dates: 7 March 2013 Decision date: 07 March 2013 Before: Rothman J Decision: (1)The plaintiff provide security for costs of the defendant in the sum of $150,000, in a form acceptable to the Prothonotary, within 28 days of the date of this Order; (2)Order 1 is to be vacated if, within 21 days of the date of this Order, the plaintiff provides to the defendant's solicitors: (a)A Deed of Charge, substantially in the form at page 62 of Exhibit A on the application, to guarantee the payment of the Costs (as defined therein) up to a maximum amount of $150,000, executed by Mr Denis Griffin and Ms Annette Williams; and (b)An executed second mortgage in registrable form over the property at xx xx Road, xxxx in the State of New South Wales ("Property"), in the sum of $150,000, securing the payment of the Costs as aforesaid (the costs of registration of such mortgage to be paid by the plaintiff); and (c)All documents or things that may be necessary to enable registration of the second mortgage, including but not limited to any requisite consent of the first mortgagee to the registration of the second mortgage over the Property. (3)Failing Order 1 being complied with or vacated, the proceedings be stayed. (4)Costs of the application be reserved. (5)The parties have liberty to apply. Catchwords: PRACTICE AND PROCEDURE - application for security for costs - no issue of principle - balance between protecting applicant by appropriate security and framing security in a way that did not obstruct the litigation Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: Brundza v Robbie & Co (No 2) [1952] HCA 49; (1952) 88 CLR 171 Bryan E Fencott & Associates Pty Ltd v Eretta Pty Ltd (1987) 16 FCR 497 Jazabas Pty Ltd v Haddad [2007] NSWCA 291; (2007) 65 ACSR 276 KP Cable Investments Pty Ltd v Meltglow Pty Ltd (1995) 56 FCR 189 Sagacious Procurement Pty Ltd v Symbion Health Ltd [2007] NSWCA 205 Category: Interlocutory applications Parties: Maecher Pictureproducts Pty Ltd (Plaintiff/Respondent) R E Davison Pty Ltd (Defendant/Applicant) Representation: Counsel: M J Steele (Plaintiff/Respondent) J O'Sullivan (Defendant/Applicant) Solicitors: Somerville Legal (Plaintiff/Respondent) Gibsons Lawyers (Defendant/Applicant) File Number(s): 2011/282994