In the matter of Pioneer Energy Holdings Pty Limited [2013] NSWSC 1366

In the matter of Pioneer Energy Holdings Pty Limited [2013] NSWSC 1366

Security for costs was ordered because there was reason to believe that Blue Oil Energy Pty Limited and Blue Diamond Australia Pty Limited would be unable to pay the Second-Sixth Defendants' costs if ordered, and no satisfactory discretionary reason or evidence was provided to refuse security; the quantum should be $338,000, to be given in the usual form (payment into Court or unconditional Australian bank guarantee).

Jurisdiction
Australia
Judgment Date
19 September 2013
Procedural Posture
Interlocutory Application / Security for Costs Application
Outcome
Security for costs ordered; further submissions invited on form of orders
Legal Topics
['security for Costs' 'corporate Plaintiffs' 'impecuniosity' 'procedural Fairness']
['corporate Law' 'civil Procedure'] ['security for Costs' 'corporate Plaintiffs' 'impecuniosity' 'procedural Fairness']

Case Brief

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Procedural Posture

Interlocutory Application / Security for Costs Application

Legal Issues

  1. 1 ["Whether there is credible testimony or reason to believe that the Third and Fourth Plaintiffs will be unable to pay the Defendants' costs if ordered to do so" "Whether the impecuniosity of the Plaintiffs results from the Defendants' conduct" "Whether ordering security for costs would stultify the Third and Fourth Plaintiffs' claims" 'What quantum and form of security for costs should be ordered']

Ratio Decidendi

Security for costs was ordered because there was reason to believe that Blue Oil Energy Pty Limited and Blue Diamond Australia Pty Limited would be unable to pay the Second-Sixth Defendants' costs if ordered, and no satisfactory discretionary reason or evidence was provided to refuse security; the quantum should be $338,000, to be given in the usual form (payment into Court or unconditional Australian bank guarantee).

Court Disposition

Security for costs ordered; further submissions invited on form of orders

Orders

  • ['The Plaintiffs are to provide security for the Second-Sixth Defendants’ costs up to $338,000, within 28 days, by payment into court or by unconditional guarantee from an Australian-owned bank.' 'The proceedings will be stayed if security is not provided when due.' 'Liberty is granted to the Second-Sixth Defendants...