In the matter of Sundara Pty Ltd (recs & mgrs apptd) (in liq); In the matter of Wine National Pty Ltd (recs & mgrs apptd) (in liq); In the matter of Killara 10 Pty Ltd (recs & mgrs apptd) (in liq); James Estate Wines Pty Ltd (recs & mgrs apptd) v Rabobank Australia Ltd & Anor [2015] NSWSC 1443

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Sundara Pty Ltd (recs & mgrs apptd) (in liq); In the matter of Wine National Pty Ltd (recs & mgrs apptd) (in liq); In the matter of Killara 10 Pty Ltd (recs & mgrs apptd) (in liq); James Estate Wines Pty Ltd (recs & mgrs apptd) v Rabobank Australia Ltd & Anor [2015] NSWSC 1443 Hearing dates: 17 September 2015 Decision date: 18 September 2015 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order that the applications for security for costs be dismissed. Costs of the application be reserved. Catchwords: PROCEDURE – costs – security for costs –applications for security for costs in respect of leave application to bring derivative proceedings under ss 236-237 of the Corporations Act 2001 (Cth) – where applications brought under r 42.21 of the UCPR and the Court's inherent jurisdiction – whether leave application vexatious or harassing – whether to grant security for costs. Legislation Cited: - Corporations Act 2001 (Cth) ss 236, 237 - Farm Debt Mediation Act 1994 (NSW) - Real Property Act 1900 (NSW) s 42 - Uniform Civil Procedure Rules 2005 (NSW) rr 6.24, 42.21 Cases Cited: - Breskvar v Wall (1971) 126 CLR 376 - Cooper v Myrtace Consulting Pty Ltd [2014] FCA 480 - City of Canada Bay Council v F & D Bonaccorso Pty Limited [2007] NSWCA 351; (2007) 71 NSWLR 424 - Green (as liquidator of Arimco Mining Pty Ltd) v CGU Insurance Ltd [2008] NSWCA 148; (2008) 67 ACSR 105 - HIH Insurance Ltd (in Liq) [2014] NSWSC 1587 - Horvath v Commonwealth Bank of Australia [1999] 1 VR 643 - Koompahtoo Local Aboriginal Land Council v KLALC Property Investment Pty Limited [2008] NSWCA 6 - Morris v Hanley [2000] NSWSC 957 - Perry v Jackson [1998] 4 VR 463 Category: Procedural and other rulings Parties: 2014/71424 Sundara Pty Ltd (recs & mgrs apptd) (in liq) (First Respondent/First Plaintiff) David Anthony James (Second Respondent/Second Plaintiff) Rabobank Australia Limited (First Applicant/First Defendant) Neil Robert Cussen (Second Applicant/Second Defendant) Vaughan Neil Strawbridge (Third Applicant/Third Defendant) 2014/71396 Killara 10 Pty Ltd (recs & mgrs apptd) (First Respondent/First Plaintiff David Anthony James (Second Respondent/Second Plaintiff) Rabobank Australia Limited (First Applicant/First Defendant) Neil Robert Cussen (Second Applicant/Second Defendant) Vaughan Neil Strawbridge (Third Applicant/Third Defendant) 2014/71413 Wine National Pty Ltd (in liq) (First Respondent/First Plaintiff) David Anthony James (Second Respondent/Second Plaintiff) Rabobank Australia Limited (First Applicant/First Defendant) Neil Robert Cussen (Second Applicant/Second Defendant) Vaughan Neil Strawbridge (Third Applicant/Third Defendant) Peter William Marsden (Fourth Applicant/Fourth Defendant) Richard Stone (Fifth Applicant/Fifth Defendant) 2015/162637 David Anthony James (Plaintiff/Respondent) Rabobank Australia Limited (First Defendant/Applicant) ROI Lands and Hedging Pty Ltd (Second Defendant/Applicant) Representation: Counsel: M Cashion SC (Mr D A James) B F Katekar (Rabobank Australia Ltd) F Assaf (ROI Lands and Hedging Pty Ltd - proceedings 15/162737)