In the matter of Boart Longyear Limited (No 3) [2017] NSWSC 1227

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Boart Longyear Limited (No 3) [2017] NSWSC 1227 Hearing dates: 4 - 5, 13 - 14, 27 July, 9, 14 August 2017, costs submissions 29 August and 5 September 2017. Decision date: 13 September 2017 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Plaintiffs pay the Snowside companies' costs of attendance at the hearings on 4–5, 13–14 and 27 July 2017 (excluding costs of preparation and expert evidence) and of preparation for and attendance at the hearings on 9 and 14 August 2017, including of the expert reports of Mr Samuel and Mr Hall dated 9 August 2017. Catchwords: COSTS — Costs incurred by non-parties — where non-parties heard in opposition to proposed creditors' schemes of arrangement not directly binding them – where contentions unsuccessful but not frivolous nor without substance – where evidence overlapped with other evidence – whether Plaintiffs should pay objectors' costs Legislation Cited: - Corporations Act 2001 (Cth), Chs 2E, 6 - Supreme Court (Corporations) Rules 1999 (NSW), r 2.13 Cases Cited: - First Pacific Advisors LLC v Boart Longyear Ltd [2017] NSWCA 116 - Quatro Ltd v Argo Investments Ltd [1999] VSC 231; (1999) 32 ACSR 480 - Re Arrowfield Group Ltd (1995) 17 ACSR 649 - Re Boart Longyear Limited (No 2) [2017] NSWSC 1105 - Re Boart Longyear Ltd [2017] NSWSC 567 - Re Crusader Ltd [1996] 1 Qd R 117; (1995) 17 ACSR 336 - Re Gia Firenze Investments Pty Ltd [2013] NSWSC 99 - Re HIH Casualty and General Insurance Ltd [2006] NSWSC 6 - Re NRMA Ltd [2000] NSWSC 82; (2000) 33 ACSR 595 - Re Pan Pharmaceuticals Ltd; Selim v McGrath [2004] NSWSC 129; (2004) 48 ACSR 681 - Snowside Pty Ltd as trustee for the Snowside Trust v Boart Longyear Ltd [2017] NSWCA 215 - Wimpar Holdings Ltd v Goldfields Kalgoorlie Ltd [2000] NSWSC 855; (2000) 35 ACSR 363 Texts Cited: - T Damien and A Rich, Schemes, Takeovers and Himalayan Peaks (2nd ed, 2009) Category: Costs Parties: Boart Longyear Limited (First Plaintiff) Boart Longyear Management Pty Limited (Second Plaintiff) Boart Longyear Australia Pty Limited (Third Plaintiff) Votraint No. 1609 Pty Limited (Fourth Plaintiff) Representation: Counsel: I M Jackman SC/R Higgins/M Izzo/L Rich (Plaintiffs) M Oakes SC (Centerbridge Partners LP) J Gleeson SC/N Bender (First Pacific Advisors LLC) P M Wood (Ares Management LP and Ascribe II Investments LLC) R P Austin/N Mirzai (Snowside Pty Limited as trustee for the Snowside Trust and Maurici Nominees Pty Ltd as trustee for AP Maurici & Associates Pty Ltd Superannuation Fund) D Barnett (Australian Securities & Investments Commission) (amicus curiae)