Gas2Grid Limited, in the matter of Gas2Grid Limited (No 2) [2010] FCA 1006

Gas2Grid Limited, in the matter of Gas2Grid Limited (No 2) [2010] FCA 1006

Octanex did not establish a causal link between its objections and the termination of the merger scheme, and in light of the circumstantial evidence, the discretion to award costs was not exercised in its favour.

Jurisdiction
Australia
Judgment Date
16 September 2010
Procedural Posture
Scheme of Arrangement Costs Application / Post Termination, Application for Legal Costs by Objector
Outcome
Octanex NL’s application for costs dismissed. No order as to costs between plaintiff and Octanex NL. Plaintiff’s application dismissed with a short stay pending further submissions.
Legal Topics
['scheme of Arrangement' 'legal Costs' 'standing of Objector' 'discretion in Awarding Costs']
['corporations Law' 'civil Procedure'] ['scheme of Arrangement' 'legal Costs' 'standing of Objector' 'discretion in Awarding Costs']

Case Brief

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Procedural Posture

Scheme of Arrangement Costs Application / Post Termination, Application for Legal Costs by Objector

Legal Issues

  1. 1 ["Whether objector to a scheme of arrangement who is not a party to the proceedings is entitled to costs after the scheme's termination" 'Whether a causal nexus exists between the objections made by the objector and the termination of the scheme']

Ratio Decidendi

Octanex did not establish a causal link between its objections and the termination of the merger scheme, and in light of the circumstantial evidence, the discretion to award costs was not exercised in its favour.

Court Disposition

Octanex NL’s application for costs dismissed. No order as to costs between plaintiff and Octanex NL. Plaintiff’s application dismissed with a short stay pending further submissions.

Orders

  • ['The notice of motion filed on 10 March 2010 by Octanex NL is dismissed.' 'The application filed by the plaintiff on 30 November 2009 is dismissed.' 'There be no order as to the costs of the plaintiff or Octanex NL.' 'Order 2 above is stayed until 1 pm on Friday 17 September 2010.' 'Gas2Grid Limited has leave to...