Nauru Phosphate Royalties Trust (Receivers and Managers appointed) & Business Australia Capital Mortgage Pty Ltd (in liquidation) & Ors; Andrew Hugh Jenner Wily in his capacity as liquidator of Business Australia Capital Finance Pty Ltd & Ors v Nauru Phosphate Royalties Trust (Receivers and Managers appointed) & Ors [2008] NSWSC 1088

Nauru Phosphate Royalties Trust (Receivers and Managers appointed) & Business Australia Capital Mortgage Pty Ltd (in liquidation) & Ors; Andrew Hugh Jenner Wily in his capacity as liquidator of Business Australia Capital Finance Pty Ltd & Ors v Nauru Phosphate Royalties Trust (Receivers and Managers appointed) & Ors [2008] NSWSC 1088

Mr Nikolaidis should not be liable for any of the plaintiffs' costs or interest in the NRPT proceeding; previous orders to the contrary were made in error and are revoked. The slip rule allows correction of these errors before entry of orders.

Parties
Plaintiff 50096/07; Defendant 50135/07: Nauru Phosphate Royalties Trust (Receivers and Managers appointed); Plaintiff 50096/07: Republic of Nauru Finance Corporation; Plaintiff 50096/07: Randwick Nominees Pty Ltd (Receivers and Managers appointed); Plaintiff 50096/07: Central Pacific (Downtowner) Pty Ltd (Receivers and Managers appointed); Plaintiff 50096/07: Spencer Investments Pty Ltd (Receivers and Managers appointed); Plaintiff 50096/07: Ronsi Business Pty Ltd (Receivers and Managers appointed); Plaintiff 50096/07: Ronsi Holdings Pty Ltd (Receivers and Managers appointed); Defendant 50096/07: Business Australia Capital Mortgage Pty Ltd (in liquidation); Defendant 50096/07: Business Australia Capital Finance Pty Ltd (in liquidation) (Receivers and Managers appointed); Defendant 50096/07; Defendant 50135/07: HLBC Pty Ltd; Defendant 50096/07: Bondedge Pty Ltd (in liquidation) (formerly Business Australia Corporate Finance Pty Ltd); Defendant 50096/07; Plaintiff 50135/07 (in His Capacity as Liquidator of Business Australia Capital Finance Pty Ltd); Plaintiff 50135/07 (in His Capacity as Liquidator of Business Australia Capital Mortgage Pty Ltd); Plaintiff 50135/07 (in His Capacity as Liquidator of Bondedge Pty Ltd): Andrew Hugh Jenner Wily; Defendant 50096/07: Leon Nikolaidis; Defendant 50135/07: James Miller & Parties trading as Ernst & Young and Ernst & Young Transaction Advisory Services Ltd
Jurisdiction
Australia
Judgment Date
15 October 2008
Procedural Posture
Equity Commercial Proceeding / Post Judgment; Consequential Orders and Correction of Orders (slip Rule)
Outcome
Revocation of portion of earlier costs orders; new costs orders entered excluding Mr Nikolaidis from costs or interest liability in NRPT proceeding.
Legal Topics
Costs Orders, Slip Rule, Correction of Judgments
Civil Procedure Equity Costs Orders Slip Rule Correction of Judgments

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 11 Party arguments 1
Sign in to unlock

Parties

Nauru Phosphate Royalties Trust (Receivers and Managers appointed)

Plaintiff 50096/07; Defendant 50135/07

Republic of Nauru Finance Corporation

Plaintiff 50096/07

Randwick Nominees Pty Ltd (Receivers and Managers appointed)

Plaintiff 50096/07

Central Pacific (Downtowner) Pty Ltd (Receivers and Managers appointed)

Plaintiff 50096/07

Spencer Investments Pty Ltd (Receivers and Managers appointed)

Plaintiff 50096/07

Ronsi Business Pty Ltd (Receivers and Managers appointed)

Plaintiff 50096/07

Ronsi Holdings Pty Ltd (Receivers and Managers appointed)

Plaintiff 50096/07

Business Australia Capital Mortgage Pty Ltd (in liquidation)

Defendant 50096/07

Business Australia Capital Finance Pty Ltd (in liquidation) (Receivers and Managers appointed)

Defendant 50096/07

HLBC Pty Ltd

Defendant 50096/07; Defendant 50135/07

Bondedge Pty Ltd (in liquidation) (formerly Business Australia Corporate Finance Pty Ltd)

Defendant 50096/07

Andrew Hugh Jenner Wily

Defendant 50096/07; Plaintiff 50135/07 (in His Capacity as Liquidator of Business Australia Capital Finance Pty Ltd); Plaintiff 50135/07 (in His Capacity as Liquidator of Business Australia Capital Mortgage Pty Ltd); Plaintiff 50135/07 (in His Capacity as Liquidator of Bondedge Pty Ltd)

Leon Nikolaidis

Defendant 50096/07

James Miller & Parties trading as Ernst & Young and Ernst & Young Transaction Advisory Services Ltd

Defendant 50135/07

Procedural Posture

Equity Commercial Proceeding / Post Judgment; Consequential Orders and Correction of Orders (slip Rule)

Legal Issues

  1. 1 Whether Mr Nikolaidis is jointly and severally liable for costs in the NRPT proceeding
  2. 2 Court's ability to correct errors in costs orders under slip rule

Ratio Decidendi

Mr Nikolaidis should not be liable for any of the plaintiffs' costs or interest in the NRPT proceeding; previous orders to the contrary were made in error and are revoked. The slip rule allows correction of these errors before entry of orders.

Court Disposition

Revocation of portion of earlier costs orders; new costs orders entered excluding Mr Nikolaidis from costs or interest liability in NRPT proceeding.

Orders

  • So much of paragraphs 19 and 20 of the previous judgment as indicated that Mr Nikolaidis was liable to pay any of the plaintiff's costs or interest on costs of the NRPT proceeding is revoked.
  • In the Wily proceeding (50135/07), Andrew Hugh Jenner Wily in his personal capacity to pay the first defendants’ costs (including indemnity costs thrown away) and interest as outlined.