In the matter of Colorado Products Pty Limited (in prov liq) [2013] NSWSC 1590

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Colorado Products Pty Limited (in prov liq) [2013] NSWSC 1590 Hearing dates: 21 and 24 October 2013 Decision date: 01 November 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Judgment that first and second defendants to be released from undertakings that capped their legal expenditure on their giving an acceptable alternative undertaking. Order made for parties to bring in agreed short minutes to give effect to judgment. Catchwords: PROCEDURE - judgments and orders - application to withdraw and replace undertakings given to the Court in order to alter a cap on legal expenditure - where costs in the proceedings have escalated due to numerous interlocutory applications - whether costs incurred in respect of the proceedings had been reasonably incurred. PROCEDURE - costs - security for costs - plaintiff - defendants seek an order that the plaintiffs give further security for their costs of the proceedings - where costs to be incurred in respect of the substantive hearing have increased - where delay in bringing application for security for costs - whether the Court should exercise its discretion. Legislation Cited: - Civil Procedure Act 2005 (NSW) s 56 - Corporations Act 2001 (Cth) s 1335 - Uniform Civil Procedure Rules 2005 (NSW) r 42.21 Cases Cited: - Anglo Eastern Trust Ltd v Kermanshahchi [2002] EWHC 3152 - Buckley v Bennell Design & Construction Pty Ltd (1974) 1 ACLR 301 - Deputy Commissioner of Taxation v Bollands [2012] FCA 1050 - Goumas v McIntosh [2002] NSWSC 713 - Li v State of New South Wales [2013] NSWCA 165 - Polstead Pty Ltd v Shah [2009] NSWSC 560 - Power Infrastructure Pty Ltd v Downer EDI Engineering Power Pty Ltd [2010] FCA 1222 Re Colorado Products (in prov liq) [2013] NSWSC 611 Category: Interlocutory applications Parties: HY International (Aust) Pty Limited (First Plaintiff) Phoenix Explorer Pty Limited (Second Plaintiff) Clare Shu Rong Huang (First Defendant) CH Design Solutions Pty Ltd (Second Defendant) Gold Label Products Pty Ltd (Third Defendant) ACN 141 843 370 Pty Ltd (Fourth Defendant) Colorado Products Pty Limited (in prov liq) Fifth Defendant) Representation: Counsel: R. Harper SC/F. Assaf (Plaintiffs) D. Neggo (First, Second and Third Defendants) R. Marshall (Liquidator of Fifth Defendant) Solicitors: Jackson Lalic (Plaintiffs) Macpherson & Kelley (First, Second and Third Defendants) O'Neill Partners (Liquidator of Fifth Defendant) File Number(s): 2011/214522