In the matter of Tiaro Coal Limited (in liq) [2018] NSWSC 746

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Tiaro Coal Limited (in liq) [2018] NSWSC 746 Hearing dates: 14 May 2018 Decision date: 24 May 2018 Before: Gleeson JA Decision: Security for costs ordered. As to the form of security, direct the parties to bring in short minutes of order consistent with these reasons. Catchwords: COSTS – security for costs – where plaintiff in liquidation – where dispute as to the form of security – where plaintiff proposed to provide deed of indemnity in favour of defendant from overseas insurer– where plaintiff also offered to pay $20,000 as security for costs incurred in enforcing the deed in overseas jurisdiction – where defendant sought security in form of cash deposit or bank guarantee – whether deed of indemnity is adequate to protect the defendant Legislation Cited: Corporations Act 2001 (Cth), ss 1317H, 1335(1) Legal Profession Uniform Law Application Act 2014 (NSW), s 70 Legal Profession Uniform Law 2014 (NSW) Uniform Civil Procedure Rules 2005 (NSW), r 42.21 Cases Cited: Australian Property Custodian Holdings Ltd (in liq) (rec and mgr apptd) v Pitcher Partners [2016] VSC 399 Berry v Innovia Security Pty Ltd [2014] FCA 357 Blue Oil Energy Pty Ltd v Tan [2014] NSWCA 81 DIF III Global Co-Investment Fund, LP v BBLP LLC [2016] VSC 401 In the matter of Fewin Pty Ltd [2017] NSWSC 1093 Maxim's Caterers Ltd v Magnona Pty Ltd (No 1) [2010] FCA 450 Petersen Superannuation Fund Pty Ltd v Bank of Queensland Limited [2017] FCA 699 Category: Principal judgment Parties: Peter Meers (First Defendant / Applicant) Tiaro Coal Limited (in liq) (Plaintiff / Respondent) Representation: Counsel: Mr D Sulan (Plaintiff) Mr J Johnson (First Defendant)