NSW Caselaw
Supreme Court New South Wales
Medium Neutral Citation: Validus Advisory Group Pty Ltd v Consolidated Tin Mines Ltd [2017] NSWSC 1042 Hearing dates: 24 July 2017 Date of orders: 09 August 2017 Decision date: 09 August 2017 Jurisdiction: Common Law Before: Lonergan J Decision: (1) Pursuant to rule 42.21(1) of the Uniform Civil Procedure Rules 2005 (NSW) and s 1335(1) of the Corporations Act 2001 (Cth), I order that the plaintiff, Validus Advisory Group Pty Ltd provide security for the defendant's costs within 28 days in the sum of $85,000, such security to be provided by way of an unconditional bank guarantee in a form acceptable to the defendant.
(2) In the event that the security ordered in order 1 above is not provided within the specified timeframe, the proceedings be stayed until further order.
(3) The plaintiff is to file and serve a Reply on or before 22 August 2017.
(4) The plaintiff is to file and serve its defence to the cross-claim on or before 22 August 2017.
(5) The proceedings are transferred to the Commercial List.
(6) The proceedings are listed for directions in the Commercial List on Friday 18 August 2017.
(7) Costs reserved. Catchwords: COSTS – security for costs – proportionality – matter of impression – no question of principle Legislation Cited: Civil Procedure Act 2005 (NSW) s 60 Corporations Act 2001 (Cth) ss 925E, 925F, 1335 Uniform Civil Procedure Rules 2005 (NSW) r 42.21 Cases Cited: April Fine Paper Macao Commercial Offshore Ltd v Moore Business Systems Australia Ltd (2009) 75 NSWLR 619; [2009] NSWSC 867 Ashington Capital Pty Ltd v Parissen Capital (Project X) Pty Ltd [2012] NSWSC 410 Re Colorado Products Pty Ltd (In Prov Liq) [2013] NSWSC 611 Green Camel Pty Ltd v Urban Ecological Systems Ltd [2007] NSWSC 362 Pacific Acceptance Corp Ltd v Forsyth (No 2) [1967] 2 NSWR 402; (1967) 85 WN (Pt 1) (NSW) 715 Category: Consequential orders (other than Costs) Parties: Validus Advisory Group Pty Ltd (Plaintiff/Respondent) Consolidated Tin Mines Ltd (Defendant/Applicant) Representation: Counsel: J Hutton (Plaintiff) D Weinberger (Defendant)
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