Aquatic Air Pty Ltd v Siewert [2016] NSWCA 130

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Aquatic Air Pty Ltd v Siewert [2016] NSWCA 130 Hearing dates: 23 May 2016 Date of orders: 30 May 2016 Decision date: 30 May 2016 Before: Macfarlan JA Decision: (1) Order pursuant to s 1335 of the Corporations Act 2001 (Cth) that Aquatic provide security for Mr and Mrs Siewert's costs of the appeal in the amount of $80,000. (2) Order the security to be provided by Aquatic paying the amount of it into Court or in such other manner as the Court orders or the parties agree. (3) Order that if the security is not provided within 14 days of the making of order (1), Aquatic's appeal be stayed and any order staying enforcement of any judgment entered at first instance be dissolved. (4) Note that Mr and Mrs Siewert have agreed not to pursue their cross-appeal in the event that Aquatic's appeal is stayed pursuant to order (3). (5) In the event that Aquatic's appeal is stayed pursuant to order (3) above, order that Aquatic pay the costs of Mr and Mrs Siewert of the appeal and cross-appeal. (6) Order Aquatic to pay Mr and Mrs Siewert's costs of this notice of motion. Catchwords: APPEAL – security for costs application – whether appellant impecunious – whether appeal would be stifled if security order made – whether undertaking by sole director should be accepted Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: Singer v Berghouse [1993] HCA 35; 67 ALJR 708 Category: Procedural and other rulings Parties: Aquatic Air Pty Ltd (Applicant) Dieter Siewert (First Respondent) Lieselotte Siewert (Second Respondent) Representation: Counsel: Mr DKL Raphael (Applicant) Mr B De Buse (Respondents)