Thomas, in the matter of Opes Prime Stockbroking Limited [2011] FCA 319

Thomas, in the matter of Opes Prime Stockbroking Limited [2011] FCA 319

Mr Thomas was entitled to costs because the Scheme Administrators failed to timely commence proceedings or inform him, which necessitated his Federal Court Application.

Jurisdiction
Australia
Judgment Date
05 April 2011
Procedural Posture
Application for Review of Scheme Administrators' Decision and Costs Order / Judgment
Outcome
Costs awarded to Mr Thomas; parties to submit form of agreed order by 8 April 2011.
Legal Topics
['scheme of Arrangement' 'preference Payments' 'costs Orders']
['corporations Law' 'insolvency'] ['scheme of Arrangement' 'preference Payments' 'costs Orders']

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Procedural Posture

Application for Review of Scheme Administrators' Decision and Costs Order / Judgment

Legal Issues

  1. 1 ['Whether Scheme Administrators were entitled to withhold payment under the Scheme pending adjudication of preference claim' "Whether the withholding constituted a proper 'claim' under cl 13.2(b) of the Schemes" 'Whether Mr Thomas is entitled to costs of the Federal Court Application']

Ratio Decidendi

Mr Thomas was entitled to costs because the Scheme Administrators failed to timely commence proceedings or inform him, which necessitated his Federal Court Application.

Court Disposition

Costs awarded to Mr Thomas; parties to submit form of agreed order by 8 April 2011.

Orders

  • ['Mr Thomas is entitled to his costs of the Federal Court Application, such costs to be taxed in default of agreement.' 'The parties submit orders to give effect to these reasons for decision by no later than 4:00pm on 8 April 2011.']