iSAM Securities (UK) Ltd v Press (No 2) [2024] NSWSC 1209

iSAM Securities (UK) Ltd v Press (No 2) [2024] NSWSC 1209

Defendants are to pay the plaintiffs' costs of the proceedings, as the plaintiffs were substantially successful and the defendants resisted the application in an adversarial manner. Costs of compliance with the discovery orders are to be paid by the plaintiffs, but if substantive proceedings are commenced within three months, those costs will be costs in the cause.

Parties
First Plaintiff: iSAM Securities (UK) Limited; Second Plaintiff: iSAM Securities (HK) Limited; Third Plaintiff: iSAM Securities (Global) Limited; Fourth Plaintiff: iSAM Securities (USA) Inc; First Defendant: Matthew Press; Second Defendant: Forexco Australia Pty Ltd
Jurisdiction
Australia
Judgment Date
25 September 2024
Procedural Posture
Application for Preliminary Discovery / Costs Determination After Orders for Preliminary Discovery
Outcome
Orders as set out at [15] regarding costs.
Legal Topics
Costs, Preliminary Discovery
Civil Procedure Equity Costs Preliminary Discovery

Case Brief

Summary, issues, holding and outcome

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Parties

iSAM Securities (UK) Limited

First Plaintiff

iSAM Securities (HK) Limited

Second Plaintiff

iSAM Securities (Global) Limited

Third Plaintiff

iSAM Securities (USA) Inc

Fourth Plaintiff

Matthew Press

First Defendant

Forexco Australia Pty Ltd

Second Defendant

Procedural Posture

Application for Preliminary Discovery / Costs Determination After Orders for Preliminary Discovery

Legal Issues

  1. 1 Whether plaintiffs or defendants should pay costs of the proceedings for preliminary discovery
  2. 2 How costs of compliance with the orders should be treated

Ratio Decidendi

Defendants are to pay the plaintiffs' costs of the proceedings, as the plaintiffs were substantially successful and the defendants resisted the application in an adversarial manner. Costs of compliance with the discovery orders are to be paid by the plaintiffs, but if substantive proceedings are commenced within three months, those costs will be costs in the cause.

Court Disposition

Orders as set out at [15] regarding costs.

Orders

  • The defendants pay the plaintiffs' costs of the proceedings on the ordinary basis, as agreed or assessed.
  • The plaintiffs pay the defendants' reasonable costs of compliance with the orders made on 19 August 2024, as agreed or assessed.