S Lander & Partners Pty Limited v Todd and anor [2017] NSWSC 1119

Supreme Court New South Wales

Medium Neutral Citation: S Lander & Partners Pty Limited v Todd and anor [2017] NSWSC 1119 Hearing dates: 1 August 2017 Date of orders: 24 August 2017 Decision date: 24 August 2017 Jurisdiction: Common Law Before: Hamill J Decision: (1) ORDER that the plaintiff provide security for the defendants' costs in the sum of $100,000.

(2) ORDER that this security be paid or secured in two tranches of $50,000 as follows:

(i)The first tranche to be paid or secured within 28 days of these orders. (ii)The second tranche to be paid or secured within 28 days after the fixture of the proceedings for trial.

(3) ORDER that the security be in one of the following forms: (i) Payment of those sums into Court; or (ii) A bank guarantee in that sum; or (iii) An undertaking by Duncan Lander to be personally liable for those costs, such guarantee to be secured by a registered mortgage over the property Glenelg.

(4) ORDER that, in the event the security is not provided within time stipulated by order (2), the proceedings be thereafter stayed until such security is provided.

(5) The plaintiff is to pay the defendants' costs of the motion.

(6) The matter is listed before the Registrar on 3 October 2017. Catchwords: CIVIL LAW – application for security for costs – where plaintiff a trust company not trading except for the purpose of the current litigation – where plaintiff concedes it would be unable to meet a costs order – where delay in bringing application – whether delay justified – form of order Legislation Cited: Uniform Civil Procedures Rules 2005 (NSW) Competition and Consumer Act 2010 (Cth) Corporations Act 2001 (Cth) Cases Cited: Bryan E Fencott & Associates Pty Ltd v Eretta Pty Ltd (1987) 16 FCR 497 Buckley v Bennell Design & Constructions Pty Ltd (1974) 1 ACLR 301 Eastman v DPP (ACT) (2003) 214 CLR 318 Equity Trust Ltd v RM Walsh land Holdings Pty Ltd (2012) NSW SC 427 Li v NSW [2013] NSWCA 165 Nguyen v R [2008] NSWCCA 332 Sharjade v Darwinia Estate & Anor [2006] NSWSC 708 Smail v Burton (1975) 1 ACLR 74 Category: Procedural and other rulings Parties: S Lander & Partners Pty Limited & Partners Family Trust (Plaintiff) Stephen Todd (First Defendant) Agronomy Plus Pty Ltd (Second Defendant) Representation: Counsel: Mr M Gunning (Plaintiff) Mr M F Newton (Defendants)