Aquatic Air Pty Ltd v Siewert [2016] NSWCA 130

Aquatic Air Pty Ltd v Siewert [2016] NSWCA 130

As there was credible evidence that Aquatic would be unable to pay the respondents' costs if unsuccessful on the appeal, and no countervailing discretionary considerations were established, the Court ordered that security for costs in the sum of $80,000 be provided by Aquatic under s 1335 of the Corporations Act 2001 (Cth).

Jurisdiction
Australia
Judgment Date
30 May 2016
Procedural Posture
Appeal / Interlocutory (security for Costs Application)
Outcome
Security for costs ordered against Aquatic Air Pty Ltd; conditional stay and costs orders specified.
Legal Topics
['security for Costs' 'appeals' 'impecuniosity of Appellant']
['civil Procedure' 'corporations Law'] ['security for Costs' 'appeals' 'impecuniosity of Appellant']

Case Brief

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Procedural Posture

Appeal / Interlocutory (security for Costs Application)

Legal Issues

  1. 1 ['Whether security for costs should be ordered against the appellant Aquatic under s 1335 of the Corporations Act 2001 (Cth)' "Whether Aquatic's impecuniosity was caused by the respondents" 'Whether the appeal would be stifled if security was ordered' 'Relevance of prior security and cross-appeal']

Ratio Decidendi

As there was credible evidence that Aquatic would be unable to pay the respondents' costs if unsuccessful on the appeal, and no countervailing discretionary considerations were established, the Court ordered that security for costs in the sum of $80,000 be provided by Aquatic under s 1335 of the Corporations Act 2001 (Cth).

Court Disposition

Security for costs ordered against Aquatic Air Pty Ltd; conditional stay and costs orders specified.

Orders

  • ["Order pursuant to s 1335 of the Corporations Act 2001 (Cth) that Aquatic provide security for Mr and Mrs Siewert's costs of the appeal in the amount of $80,000." 'Order the security to be provided by Aquatic paying the amount of it into Court or in such other manner as the Court orders or the parties agree.'...