In the matter of Fearndale Holdings Pty Ltd (admin apptd) (recs & mgrs apptd) [2019] NSWSC 1810

In the matter of Fearndale Holdings Pty Ltd (admin apptd) (recs & mgrs apptd) [2019] NSWSC 1810

No error of principle, misapprehension of evidence or unreasonableness was shown in the referee’s findings as to interest rates and fees; the referee’s report should be adopted. The referee’s assessment of costs, apportioning 30% of Plaintiffs' costs to be paid by the Respondent, was justified by the failure of substantial claims made by CCF/ALI and the time and resources those claims consumed.

Parties
First Plaintiff: Lawrence Richard Harpley; Second Plaintiff: Gary Richard Harpley; Respondent in the Application: Australian Lending Investment Pty Ltd
Jurisdiction
Australia
Judgment Date
17 December 2019
Procedural Posture
Application to Adopt Referee's Report / Final Determination/adoption of Referee's Report
Outcome
Referee's report adopted; orders as to costs in accordance with referee's provisional view
Legal Topics
Court Referral to Referee, Interest Rate Determination, Fees and Expenses, Costs Orders, Alternative Dispute Resolution
Civil Procedure Corporations Law Court Referral to Referee Interest Rate Determination Fees and Expenses Costs Orders Alternative Dispute Resolution

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Parties

Lawrence Richard Harpley

First Plaintiff

Gary Richard Harpley

Second Plaintiff

Australian Lending Investment Pty Ltd

Respondent in the Application

Procedural Posture

Application to Adopt Referee's Report / Final Determination/adoption of Referee's Report

Legal Issues

  1. 1 Should the Court adopt, vary or reject the referee's report?
  2. 2 Was the referee's calculation of interest rate correct?
  3. 3 Were additional fees properly substantiated and recoverable?

Ratio Decidendi

No error of principle, misapprehension of evidence or unreasonableness was shown in the referee’s findings as to interest rates and fees; the referee’s report should be adopted. The referee’s assessment of costs, apportioning 30% of Plaintiffs' costs to be paid by the Respondent, was justified by the failure of substantial claims made by CCF/ALI and the time and resources those claims consumed.

Court Disposition

Referee's report adopted; orders as to costs in accordance with referee's provisional view

Orders

  • Grant leave to Australian Lending Investment Pty Ltd to make further submissions as to provisional findings in paragraph 49 by 4pm on 19 December 2019.
  • Direct parties to bring in agreed orders to give effect to judgment or, if no agreement, respective draft orders and submissions as to differences by 4pm on 20 December 2019.