Millinium Capital Managers Ltd v Soma Group Ltd [2020] NSWSC 300

Supreme Court New South Wales

Medium Neutral Citation: Millinium Capital Managers Ltd v Soma Group Ltd [2020] NSWSC 300 Hearing dates: On the papers Date of orders: 26 March 2020 Decision date: 26 March 2020 Jurisdiction: Equity - Commercial List Before: Stevenson J Decision: Leave to plaintiff to file a proposed Amended Commercial List Statement is refused. Leave granted to plaintiff to circulate any further proposed Amended Commercial List Statement. Upon plaintiff's undertaking to the Court and to the defendants concerning payment into Court if its assets are reduced below a specified level, the defendants' notice of motion seeking security for costs is dismissed. The defendants' notice of motion seeking to strike out certain paragraphs of the plaintiff's Commercial List Statement is stood over to the Commercial List on 24 April 2020. Catchwords: PRACTICE AND PROCEDURE – leave to amend Commercial List Statement

CONSUMER LAW – misleading or deceptive conduct – whether directors were knowingly involved

COSTS – security for costs – where plaintiff undertakes to notify defendants if assets fall below specified value Legislation Cited: Competition and Consumer Act 2010 (Cth), Sch 2 ('Australian Consumer Law') Trans-Tasman Proceedings Act 2010 (Cth) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: Sutton v AJ Thompson Pty Ltd (in liq) (1987) 73 ALR 233 Texts Cited: R V Miller, Miller's Annotated Competition and Consumer Law (42nd ed, 2020, Lawbook Co) Category: Procedural and other rulings Parties: Millinium Capital Managers Ltd (Plaintiff) Soma Group Ltd (First Defendant) Logic Fund Management Ltd (Second Defendant) Gregory Phillipe Marshall (Third Defendant) Paul John Chamberlain (Fourth Defendant) Representation: Counsel: J Willis (Plaintiff) G P Gee (Defendants)