Lewis v Nortex Pty Ltd (In Liq); Lamru Pty Ltd v Kation Pty Ltd [2005] NSWSC 264

Lewis v Nortex Pty Ltd (In Liq); Lamru Pty Ltd v Kation Pty Ltd [2005] NSWSC 264

The Court allowed release of $31,607.70 from the Mareva-restrained fund to pay Mr Motbey's invoices because, consistently with earlier reasons culminating in the judgment of 15 December 2004, the restrained funds should be available for Lamru's ongoing litigation costs. To prevent further inadvertent depletion through interest releases, interest was to be applied first to the release and otherwise accumulated as part of the fund available for any further costs.

Jurisdiction
Australia
Judgment Date
08 March 2005
Procedural Posture
Application for Release of Money From Funds Subject to a Mareva Restraint to Meet Costs / Further Interlocutory Application
Outcome
Further money released from the Mareva restraint to meet costs; Mareva restraint varied; no order as to costs of the application; existing stays extended.
Legal Topics
['mareva Injunctions' 'interlocutory Injunctions' 'release of Restrained Funds' 'funding Litigation Costs' 'stays']
['equity' 'civil Procedure'] ['mareva Injunctions' 'interlocutory Injunctions' 'release of Restrained Funds' 'funding Litigation Costs' 'stays']

Case Brief

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Procedural Posture

Application for Release of Money From Funds Subject to a Mareva Restraint to Meet Costs / Further Interlocutory Application

Legal Issues

  1. 1 ["Whether further money should be released from funds subject to a Mareva restraint to meet Lamru's counsel's fees." 'Whether interest on the restrained account should continue to be released to Mr Lamb and Beverley Anne Tilbury or accumulated for possible future costs.' 'Whether existing stays should be extended.']

Ratio Decidendi

The Court allowed release of $31,607.70 from the Mareva-restrained fund to pay Mr Motbey's invoices because, consistently with earlier reasons culminating in the judgment of 15 December 2004, the restrained funds should be available for Lamru's ongoing litigation costs. To prevent further inadvertent depletion through interest releases, interest was to be applied first to the release and otherwise accumulated as part of the fund available for any further costs.

Court Disposition

Further money released from the Mareva restraint to meet costs; Mareva restraint varied; no order as to costs of the application; existing stays extended.

Orders

  • ["$31,607.70 is to be released from the fund subject to Mareva restraint for payment of Mr Stephen Motbey's invoices, Exhibit A92." 'The amount of the release is to be met first from any accrued interest in the account and secondly from the corpus of the account.' 'Order 2 of the orders of 27 June 2003 for release...