Tyneside Property Management Pty Limited v Hammersmith Management Pty Limited [2013] NSWCA 404

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Tyneside Property Management Pty Limited v Hammersmith Management Pty Limited [2013] NSWCA 404 Hearing dates: 25 November 2013 Decision date: 29 November 2013 Before: Sackville AJA Decision: (1) Order the appellants to furnish by 16 December 2013 security for the costs of the respondents of and incidental to the appeal in the amount of $80,000. (2) In the absence of agreement between the parties, such security to be provided by way of bank guarantee. (3) Stay the proceedings until security in accordance with these orders is provided. (4) Order the appellants to pay the respondents' costs of the motion filed on 4 October 2013. [Note: The Uniform Civil Procedure Rules 2005 provide (Rule 36.11) that unless the Court otherwise orders, a judgment or order is taken to be entered when it is recorded in the Court's computerised court record system. Setting aside and variation of judgments or orders is dealt with by Rules 36.15, 36.16, 36.17 and 36.18. Parties should in particular note the time limit of fourteen days in Rule 36.16.] Catchwords: SECURITY FOR COSTS - security sought from appellant corporations pursuant to Corporations Act 2001, s 1335(1) - security sought from individual pursuant to r 51.50 - no issue of principle - application granted Legislation Cited: Corporations Act 2001 (Cth), ss 459G, 1335(1)

Uniform Civil Procedure Rules 2005 (NSW), r 51.50 Cases Cited: Ballard v Brookfield Australia Investments Ltd [2012] NSWCA 434 Idoport Pty Ltd v National Australia Bank Ltd [2002] NSWCA 271 Pioneer Park Pty Ltd (In Liq) & Ors v Australia and New Zealand Banking Group Ltd [2007] NSWCA 344; 65 ACSR 383 Preston v Harbour Pacific Underwriting Management Pty Ltd [2007] NSWCA 247 Prynew Pty Limited & Anor v Nemeth & Ors [2010] NSWCA 94 Category: Interlocutory applications Parties: Tyneside Property Management Pty Limited (First Appellant) Namlot Nominees Pty Limited (Second Appellant) Roy Frederick Haggis (Third Appellant)