Peter Holmes Investments Pty Ltd v S&C Nicola Pty Ltd (No 3) [2024] NSWSC 965

Peter Holmes Investments Pty Ltd v S&C Nicola Pty Ltd (No 3) [2024] NSWSC 965

PHI is entitled only to the costs solely referable to defending SCN's breach of duty claims and prosecuting its HNH Loan claim, excluding costs incurred in reference proceedings. Otherwise, each party is to bear its own costs, consistent with distributive application of the 'costs follow the event' rule and the partnership account costs principles, given the mixed outcome, settlements, nature of partnership accounts, and absence of significant deviation from standard principles by any party.

Jurisdiction
Australia
Judgment Date
07 August 2024
Procedural Posture
Commercial Property Development Partnership Dispute / Post Judgment, Determination of Costs After Settlement & Determination of Claims
Outcome
Costs orders made solely for certain discrete claims as against SCN; otherwise, no order as to costs between the principal parties.
Legal Topics
['costs' 'partnerships' 'property Development' 'joint Venture' 'accounting Proceedings']
['equity' 'commercial Law'] ['costs' 'partnerships' 'property Development' 'joint Venture' 'accounting Proceedings']

Case Brief

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Procedural Posture

Commercial Property Development Partnership Dispute / Post Judgment, Determination of Costs After Settlement & Determination of Claims

Legal Issues

  1. 1 ['Entitlement to and apportionment of costs between parties after mixed success on claims and cross-claims in property development disputes' 'Whether costs should follow the event, be applied distributively, or be ordered otherwise in a multi-issue partnership dispute' 'Application of partnership account costs rule to claims involving allegations of partner default' "Effect of settlements and orders to 'bear own costs' in resolved claims" 'Entitlement to indemnity costs arising from offers during proceedings']

Ratio Decidendi

PHI is entitled only to the costs solely referable to defending SCN's breach of duty claims and prosecuting its HNH Loan claim, excluding costs incurred in reference proceedings. Otherwise, each party is to bear its own costs, consistent with distributive application of the 'costs follow the event' rule and the partnership account costs principles, given the mixed outcome, settlements, nature of partnership accounts, and absence of significant deviation from standard principles by any party.

Court Disposition

Costs orders made solely for certain discrete claims as against SCN; otherwise, no order as to costs between the principal parties.

Orders

  • ["Order that the first defendant pay the costs of the plaintiff solely referable to the plaintiff's claims for recovery of the 'HNH loan' the subject of prayers 16-19 in the statement of claim (but not including any such costs incurred in proceedings before the referees)." 'The first defendant/cross-claimant pay the...