Holland v BT Securities Limited (No 3) [2023] FCA 961

Holland v BT Securities Limited (No 3) [2023] FCA 961

The plaintiffs' rejection of the defendant's formal offer under r 25 and Calderbank offer was imprudent and unreasonable; therefore, costs should be awarded on a party-party basis up to the time of the offer and on an indemnity basis thereafter under FCR 25.14(2).

Parties
First Plaintiff: Mark William Holland; Second Plaintiff: Vivienne Lesleigh Holland; Defendant: BT Securities Limited (ACN 000 720 114)
Jurisdiction
Australia
Judgment Date
07 August 2023
Procedural Posture
Application for Indemnity Costs / Post Judgment Cost Orders Following Dismissal of Plaintiffs' Claims
Outcome
Application for indemnity costs largely granted; plaintiffs ordered to pay costs on a party-party basis up to 11:00am on 13 December 2021 and on an indemnity basis thereafter.
Legal Topics
Indemnity Costs, Offers of Compromise, Calderbank Offers
Practice and Procedure Commercial Law Corporations Law Indemnity Costs Offers of Compromise Calderbank Offers

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Parties

Mark William Holland

First Plaintiff

Vivienne Lesleigh Holland

Second Plaintiff

BT Securities Limited (ACN 000 720 114)

Defendant

Procedural Posture

Application for Indemnity Costs / Post Judgment Cost Orders Following Dismissal of Plaintiffs' Claims

Legal Issues

  1. 1 Whether the plaintiffs should pay indemnity costs following rejection of defendant's formal and Calderbank offers
  2. 2 Whether the rejection of the offers was imprudent or unreasonable

Ratio Decidendi

The plaintiffs' rejection of the defendant's formal offer under r 25 and Calderbank offer was imprudent and unreasonable; therefore, costs should be awarded on a party-party basis up to the time of the offer and on an indemnity basis thereafter under FCR 25.14(2).

Court Disposition

Application for indemnity costs largely granted; plaintiffs ordered to pay costs on a party-party basis up to 11:00am on 13 December 2021 and on an indemnity basis thereafter.

Orders

  • The plaintiffs are to pay the defendant's costs of and incidental to the proceedings up to and including 11.00am on 13 December 2021 on a party-party basis.
  • From 11.00am on 13 December 2021, plaintiffs are to pay the defendant's costs of and incidental to the proceedings on an indemnity basis.