Puddick v Dyamond Developments Pty Ltd (No 2) [2019] NSWSC 738

Supreme Court New South Wales

Medium Neutral Citation: Puddick v Dyamond Developments Pty Ltd (No 2) [2019] NSWSC 738 Hearing dates: 24 May 2019 Date of orders: 24 May 2019 Decision date: 19 June 2019 Jurisdiction: Equity Before: Robb J Decision: (1) Declare that the transfer by the first defendant to the third defendant of 19,500,000 shares in Pacifico Minerals Ltd was for no consideration.

(2) Order the defendants to pay the plaintiffs' costs of the proceedings on the ordinary basis. Catchwords: JUDGMENTS AND ORDERS — Consequential orders — First defendant transferred shares to third defendant for no consideration — Issue sufficiently litigated to justify a declaration to that effect – Parties did not contest the issue of whether the third defendant holds the shares on a resulting trust for the first defendant – No declaration to that effect

COSTS — Party/Party — Bases of quantification — Ordinary vs indemnity basis — Ordinary basis appropriate because the defendants' conduct the subject of the proceedings cannot of itself found an entitlement to indemnity costs, and the defence itself was not conducted with the requisite degree of delinquency to justify indemnity costs Legislation Cited: Civil Procedure Act 2005 (NSW) Cases Cited: Hypec Electronics Pty Ltd (in liq) v Mead; BL & GY International Co Ltd v Hypec Electronics Pty Ltd (2004) 61 NSWLR 169; [2004] NSWSC 731 Puddick v Dyamond Developments Pty Ltd [2019] NSWSC 431 Category: Costs Parties: Justin Frank Puddick (First Plaintiff) John Edward Puddick (Second Plaintiff) Dyamond Developments Pty Ltd (First Defendant) George Hatzipapas (Second Defendant) Gaks Investment Holdings Pty Ltd (Third Defendant) Representation: Counsel: Dr E Peden (Plaintiffs)