ASIC v Krecichwost [2007] NSWSC 1458

ASIC v Krecichwost [2007] NSWSC 1458

York was entitled to costs against ASIC and Fincorp Developments in respect of its interlocutory process, as both opposed York's claim and York succeeded; Fincorp Developments was deemed a party for costs purposes under the Rules; no priority order could be made for costs in the winding up due to statutory scheme; ASIC's public authority status did not constitute special circumstances to depart from the rule that costs follow the event.

Jurisdiction
Australia
Judgment Date
14 December 2007
Procedural Posture
Interlocutory Applications / Costs Determination Following Dismissal of Unresolved Applications
Outcome
Costs orders granted as described; no priority order for costs in winding up.
Legal Topics
['costs in Interlocutory Applications' 'joinder and Party Status' 'asset Preservation Orders' 'priority of Costs in Liquidation']
['corporations Law' 'civil Procedure'] ['costs in Interlocutory Applications' 'joinder and Party Status' 'asset Preservation Orders' 'priority of Costs in Liquidation']

Case Brief

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Procedural Posture

Interlocutory Applications / Costs Determination Following Dismissal of Unresolved Applications

Legal Issues

  1. 1 ["Whether Fincorp Developments Pty Ltd was a 'party' for purposes of UCPR 42.3(1) and thus liable for costs" 'Whether ASIC should be ordered to pay costs as a public authority' 'Whether costs ordered against Fincorp Developments in liquidation should rank in priority to unsecured creditors']

Ratio Decidendi

York was entitled to costs against ASIC and Fincorp Developments in respect of its interlocutory process, as both opposed York's claim and York succeeded; Fincorp Developments was deemed a party for costs purposes under the Rules; no priority order could be made for costs in the winding up due to statutory scheme; ASIC's public authority status did not constitute special circumstances to depart from the rule that costs follow the event.

Court Disposition

Costs orders granted as described; no priority order for costs in winding up.

Orders

  • ["ASIC and Fincorp Developments Pty Ltd to pay York Capital Limited's costs associated with York's interlocutory process of 7 August 2007, as assessed or agreed." "Fincorp Developments Pty Ltd to pay York Capital Limited's costs and Macarthur Investment Group Pty Ltd's costs associated with Fincorp Developments'...