Puddick v Dyamond Developments Pty Ltd (No 3) [2020] NSWSC 551

Puddick v Dyamond Developments Pty Ltd (No 3) [2020] NSWSC 551

The balance of the proceedings (plaintiffs' tracing claim against the third defendant) should be discontinued rather than dismissed, preserving the plaintiffs’ right to revive the claim if necessary. All defendants are to pay the plaintiffs’ costs on the ordinary basis from 13 June 2019 to the date of orders. Claims for the release of monies paid into court on Quistclose trust grounds cannot be determined in these proceedings as the application must be brought in the winding up proceedings with proper notice.

Jurisdiction
Australia
Judgment Date
12 May 2020
Procedural Posture
Equity / Final Orders Following Previous Judgments and Appeal
Outcome
Plaintiffs’ application to discontinue the balance of proceedings granted; costs awarded to plaintiffs.
Legal Topics
['discontinuance of Proceedings' 'resulting Trusts' 'quistclose Trusts' 'party/party Costs' 'freezing Orders']
['civil Procedure' 'equity' 'costs'] ['discontinuance of Proceedings' 'resulting Trusts' 'quistclose Trusts' 'party/party Costs' 'freezing Orders']

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Procedural Posture

Equity / Final Orders Following Previous Judgments and Appeal

Legal Issues

  1. 1 ['Whether the remaining claim for tracing against the third defendant should be discontinued or dismissed' 'Entitlement to costs regarding discontinued proceedings' 'Whether monies paid into court should be released to the third defendant on Quistclose trust principles']

Ratio Decidendi

The balance of the proceedings (plaintiffs' tracing claim against the third defendant) should be discontinued rather than dismissed, preserving the plaintiffs’ right to revive the claim if necessary. All defendants are to pay the plaintiffs’ costs on the ordinary basis from 13 June 2019 to the date of orders. Claims for the release of monies paid into court on Quistclose trust grounds cannot be determined in these proceedings as the application must be brought in the winding up proceedings with proper notice.

Court Disposition

Plaintiffs’ application to discontinue the balance of proceedings granted; costs awarded to plaintiffs.

Orders

  • ["The balance of these proceedings (being the plaintiffs' claim for tracing against the third defendant) be discontinued." 'The freezing orders against the first defendant made by Pembroke J on 15 June 2018 be discharged.' 'The freezing orders against the third defendant made by Slattery J on 17 December 2018 be...