County Securities Pty Limited v Challenger Group Holdings Pty Limited (No 2) [2008] NSWCA 273

County Securities Pty Limited v Challenger Group Holdings Pty Limited (No 2) [2008] NSWCA 273

The offer made by County on 9 February 2007 was a genuine offer of compromise, represented significant compromise, and was made at a stage when Challenger and CHL were fully apprised of County's case; their refusal to accept the offer was unreasonable. Therefore, County is entitled to indemnity costs from the date of the offer, and ordinary costs prior to that date.

Parties
Appellant: County Securities Pty Limited; First Respondent: Challenger Group Holdings Limited (formerly known as Challenger Financial Services Group Limited); Second Respondent: Challenger Hedging Limited
Jurisdiction
Australia
Judgment Date
27 October 2008
Procedural Posture
Civil Appeal / Costs Hearing After Appeal Decision
Outcome
Order for costs in favour of County, on an indemnity basis from 9 February 2007 and on an ordinary basis prior to that date.
Legal Topics
Calderbank Offer, Indemnity Costs, Costs Discretion
Practice and Procedure Calderbank Offer Indemnity Costs Costs Discretion

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Parties

County Securities Pty Limited

Appellant

Challenger Group Holdings Limited (formerly known as Challenger Financial Services Group Limited)

First Respondent

Challenger Hedging Limited

Second Respondent

Procedural Posture

Civil Appeal / Costs Hearing After Appeal Decision

Legal Issues

  1. 1 Whether indemnity costs of trial should be ordered after a Calderbank offer was unreasonably refused

Ratio Decidendi

The offer made by County on 9 February 2007 was a genuine offer of compromise, represented significant compromise, and was made at a stage when Challenger and CHL were fully apprised of County's case; their refusal to accept the offer was unreasonable. Therefore, County is entitled to indemnity costs from the date of the offer, and ordinary costs prior to that date.

Court Disposition

Order for costs in favour of County, on an indemnity basis from 9 February 2007 and on an ordinary basis prior to that date.

Orders

  • Challenger and CHL to pay County's costs of the trial before Rolfe DCJ up to and including 8 February 2007 on the ordinary basis and from 9 February 2007 on the indemnity basis.