The Owners - Strata Plan No 16624 v IPM Developments Pty Ltd (in liquidation) [2024] NSWSC 1548

The Owners - Strata Plan No 16624 v IPM Developments Pty Ltd (in liquidation) [2024] NSWSC 1548

Security for costs should be ordered in the sum of $300,000, payable in three tranches, against the plaintiffs in favour of the second, fourth, and fifth defendants, as the plaintiffs accept likely inability to pay adverse costs and have demonstrated no prejudice from delay.

Parties
First Plaintiff: The Owners - Strata Plan No 16624; Second Plaintiff: The Owners - Strata Plan No 90950; First Defendant: IPM Developments Pty Ltd (in liquidation); Second Defendant: Aleksander Novakovic; Third Defendant: IDA Potts Point Pty Ltd (in liquidation); Fourth Defendant: Steven Sroba; Fifth Defendant: John Cardamis
Jurisdiction
Australia
Judgment Date
03 December 2024
Procedural Posture
Security for Costs Application / Interlocutory Decision on Security for Costs Motions
Outcome
Security for costs ordered for second, fourth, and fifth defendants; plaintiffs to pay costs of these applications.
Legal Topics
Costs, Security for Costs, Quantum of Security, Delay in Application, Owners Corporation
Civil Procedure Costs Security for Costs Quantum of Security Delay in Application Owners Corporation

Case Brief

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Parties

The Owners - Strata Plan No 16624

First Plaintiff

The Owners - Strata Plan No 90950

Second Plaintiff

IPM Developments Pty Ltd (in liquidation)

First Defendant

Aleksander Novakovic

Second Defendant

IDA Potts Point Pty Ltd (in liquidation)

Third Defendant

Steven Sroba

Fourth Defendant

John Cardamis

Fifth Defendant

Procedural Posture

Security for Costs Application / Interlocutory Decision on Security for Costs Motions

Legal Issues

  1. 1 Whether security for costs should be ordered against the plaintiff owners corporations
  2. 2 Quantum and timing of security for costs
  3. 3 Effect of delay in bringing application for security

Ratio Decidendi

Security for costs should be ordered in the sum of $300,000, payable in three tranches, against the plaintiffs in favour of the second, fourth, and fifth defendants, as the plaintiffs accept likely inability to pay adverse costs and have demonstrated no prejudice from delay.

Court Disposition

Security for costs ordered for second, fourth, and fifth defendants; plaintiffs to pay costs of these applications.

Orders

  • Plaintiffs to provide security for the second, fourth, and fifth defendants' costs in the sum of $300,000, payable in three tranches of $100,000 each.
  • Plaintiffs to pay the second, fourth, and fifth defendants' costs of their security for costs motions.