Warner v Wong, in the matter of Bellpac Pty Limited (Receivers and Managers Appointed) (In Liq) (No 6) [2015] FCA 1175

Warner v Wong, in the matter of Bellpac Pty Limited (Receivers and Managers Appointed) (In Liq) (No 6) [2015] FCA 1175

Given multiple defendants with varying degrees of involvement and discontinuance against some, it is appropriate to apportion costs pursuant to s 43(3)(c) of the Federal Court of Australia Act 1976, reflecting each party's involvement. The plaintiffs succeeded in showing they are the true owners of the relevant bonds, entitling them to delivery up, rectification of registers, and costs orders as apportioned.

Parties
First Plaintiff: Anthony John Warner and Steven Kugel in their capacities as joint and several liquidators of Bellpac Pty Limited (Receivers and Managers Appointed) (In Liquidation) ACN 101 713 017; Second Plaintiff: Bellpac Pty Limited (Receivers and Managers Appointed) (In Liquidation) ACN 101 713 017; Third Defendant: Alfred Wong; Fifth Defendant: Shan Pei Investment Limited; Sixth Defendant: Good Team Investments Limited; Seventh Defendant: Great Investments Limited; Eighth Defendant: Osmond Tze Leung Kwok; Ninth Defendant: Hong Xu; Tenth Defendant: Zhi Hong; Eleventh Defendant: Chiah Cheang Lee; Twelfth Defendant: Gujarat NRE Coking Coal Limited (formerly known as Gujarat NRE Minerals Limited); Thirteenth Defendant: All Seasons Resources Inc; Fourteenth Defendant: View Plan Enterprises Limited
Jurisdiction
Australia
Judgment Date
03 November 2015
Procedural Posture
Civil Proceedings / Post Trial (final Orders and Costs)
Outcome
Relief granted (declarations as to ownership, delivery up of bond certificates, rectification/cancellation/reissue of bonds, return of security for costs), costs apportioned among defendants as specified.
Legal Topics
Apportionment of Costs, Ownership of Convertible Bonds, Rectification of Register, Security for Costs
Insolvency Civil Procedure Apportionment of Costs Ownership of Convertible Bonds Rectification of Register Security for Costs

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Parties

Anthony John Warner and Steven Kugel in their capacities as joint and several liquidators of Bellpac Pty Limited (Receivers and Managers Appointed) (In Liquidation) ACN 101 713 017

First Plaintiff

Bellpac Pty Limited (Receivers and Managers Appointed) (In Liquidation) ACN 101 713 017

Second Plaintiff

Alfred Wong

Third Defendant

Shan Pei Investment Limited

Fifth Defendant

Good Team Investments Limited

Sixth Defendant

Great Investments Limited

Seventh Defendant

Osmond Tze Leung Kwok

Eighth Defendant

Hong Xu

Ninth Defendant

Zhi Hong

Tenth Defendant

Chiah Cheang Lee

Eleventh Defendant

Gujarat NRE Coking Coal Limited (formerly known as Gujarat NRE Minerals Limited)

Twelfth Defendant

All Seasons Resources Inc

Thirteenth Defendant

View Plan Enterprises Limited

Fourteenth Defendant

Procedural Posture

Civil Proceedings / Post Trial (final Orders and Costs)

Legal Issues

  1. 1 Whether the plaintiffs are the true owners of 8% convertible bonds issued by the twelfth defendant and held by other defendants
  2. 2 Whether orders should be made for delivery up and rectification of records regarding such bonds
  3. 3 How costs should be apportioned among defendants given varying levels of involvement

Ratio Decidendi

Given multiple defendants with varying degrees of involvement and discontinuance against some, it is appropriate to apportion costs pursuant to s 43(3)(c) of the Federal Court of Australia Act 1976, reflecting each party's involvement. The plaintiffs succeeded in showing they are the true owners of the relevant bonds, entitling them to delivery up, rectification of registers, and costs orders as apportioned.

Court Disposition

Relief granted (declarations as to ownership, delivery up of bond certificates, rectification/cancellation/reissue of bonds, return of security for costs), costs apportioned among defendants as specified.

Orders

  • Declared the second plaintiff is true owner of specified bonds (Good Team, Great Investments, Kwok, Xu, and Lee Bonds).
  • Relevant defendants (sixth, seventh, eighth, ninth, and eleventh) ordered to deliver up bond certificates and related documents within 14 days.