In the matter of 77738930144 Pty Limited (in liquidation) (ACN 103 983 777) (formerly known as Commercial Indemnity Pty Limited) [2019] NSWSC 626

Supreme Court New South Wales

Medium Neutral Citation: In the matter of 77738930144 Pty Limited (in liquidation) (ACN 103 983 777) (formerly known as Commercial Indemnity Pty Limited) [2019] NSWSC 626 Hearing dates: 15 April 2019 Decision date: 31 May 2019 Jurisdiction: Equity - Corporations List Before: Rees J Decision: (1) Dismiss the interlocutory process filed by the defendants on 22 February 2019. (2) Order the defendants to pay to the plaintiffs' costs of the interlocutory process. Catchwords: COSTS — Security for costs — Where action brought by liquidator to recover monies said to be improperly paid in anticipation of winding up — Relevant factors — Cause of impecuniosity — Merits of claim — Public importance — Delay in bringing application for security — litigation funding — No order for security. Legislation Cited: Corporations Act 2001 (Cth), s 1335 Uniform Civil Procedure Rules 2005 (NSW), r 42.21 Cases Cited: Galati v Deans [2018] NSWSC 1600 Green (as liquidator of Arimco Mining Pty Ltd) v CGU Insurance Ltd (2008) 67 ACSR 105; [2008] NSWCA 148 In the matter of 77738930144 Pty Ltd (in liq) (formerly Commercial Indemnity Pty Ltd) [2017] NSWSC 452 In the matter of Australia Wattle Fund Pty Ltd [2017] NSWSC 1664 In the matter of Australian Style Holdings Pty Ltd [2018] NSWSC 1368 In the matter of Commercial Indemnity Pty Ltd [2016] NSWSC 1125 Jazabas Pty Ltd v Haddad (2007) 65 ACSR 276; [2007] NSWCA 291 Live Board Holdings Ltd v Cody Live Pty Ltd [2017] NSWCA 302 Luo v Windy Hills Australian Game Meats Pty Ltd (No 2) [2018] NSWSC 1139 Trojan Marketing & Consultants Pty Limited v Kirela Pty Limited [2018] NSWSC 1786 Category: Procedural and other rulings Parties: 77738930144 Pty Limited (in liquidation) (ACN 103 983 777) (formerly known as Commercial Indemnity Pty Limited) (First Plaintiff) Geoffrey Trent Hancock (as Special Purpose Liquidator of the First Plaintiff) (Second Plaintiff)