Frank Giachin Pty Ltd v Newsnet Telecommunications Pty Ltd & Ors [1997] FCA 1026

Frank Giachin Pty Ltd v Newsnet Telecommunications Pty Ltd & Ors [1997] FCA 1026

An order for security for costs of $25,000 is refused because it would prevent the applicant from pursuing its claim; instead, the individuals behind the trustee company are required to provide guarantees as security for costs.

Jurisdiction
Australia
Judgment Date
03 February 1997
Procedural Posture
Interlocutory Application / Post Interlocutory Hearing, Pre Trial
Outcome
Application for $25,000 security for costs refused; alternative security via guarantee ordered.
Legal Topics
['security for Costs' 'guarantees' 'trustee Company Litigation']
['corporations Law' 'civil Procedure'] ['security for Costs' 'guarantees' 'trustee Company Litigation']

Case Brief

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Procedural Posture

Interlocutory Application / Post Interlocutory Hearing, Pre Trial

Legal Issues

  1. 1 ['Whether an order for security for costs should be made against a trustee company under s 1335 of the Corporations Law' 'Appropriate form of security for costs when individuals behind the company have limited assets']

Ratio Decidendi

An order for security for costs of $25,000 is refused because it would prevent the applicant from pursuing its claim; instead, the individuals behind the trustee company are required to provide guarantees as security for costs.

Court Disposition

Application for $25,000 security for costs refused; alternative security via guarantee ordered.

Orders

  • ['Security be given by Frank Giachin and Glenys June Giachin, by a deed of guarantee executed by them in a form satisfactory to the Registrar for the joint and several payment by them of any order for costs made against the Trustee Company.' 'Security by deed of guarantee be provided within 21 days and the...