Horton Asset Pty Ltd v HMSY Group Pty Ltd [2024] NSWSC 1619

Horton Asset Pty Ltd v HMSY Group Pty Ltd [2024] NSWSC 1619

Plaintiff entitled to default judgment for the loan sum plus interest as the defendant filed no defence, did not contest liability or amount, and made a submission to abide by the court’s orders. Existing freezing order ceases upon determination of proceedings as drafted in prior consent order. Plaintiff entitled to indemnity costs in line with the loan, save for costs relating to the freezing orders, which are to be on an ordinary basis. No extension of the freezing order is permitted absent a formal application.

Parties
Plaintiff: Horton Asset Pty Ltd; Defendant: HMSY Group Pty Ltd
Jurisdiction
Australia
Judgment Date
16 December 2024
Procedural Posture
Civil Recovery—loan/default Judgment/freezing Order / Default Judgment; Dismissal of Notice of Motion; Post Judgment Costs
Outcome
Default judgment for plaintiff; defendant's notice of motion dismissed with costs; costs orders as set out.
Legal Topics
Default Judgment, Freezing Order, Costs Orders
Civil Procedure Default Judgment Freezing Order Costs Orders

Case Brief

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Parties

Horton Asset Pty Ltd

Plaintiff

HMSY Group Pty Ltd

Defendant

Procedural Posture

Civil Recovery—loan/default Judgment/freezing Order / Default Judgment; Dismissal of Notice of Motion; Post Judgment Costs

Legal Issues

  1. 1 Whether the plaintiff is entitled to default judgment in absence of a defence
  2. 2 Whether the existing freezing order should be discharged or extended on conclusion of proceedings
  3. 3 Appropriate costs orders regarding default judgment and freezing order proceedings

Ratio Decidendi

Plaintiff entitled to default judgment for the loan sum plus interest as the defendant filed no defence, did not contest liability or amount, and made a submission to abide by the court’s orders. Existing freezing order ceases upon determination of proceedings as drafted in prior consent order. Plaintiff entitled to indemnity costs in line with the loan, save for costs relating to the freezing orders, which are to be on an ordinary basis. No extension of the freezing order is permitted absent a formal application.

Court Disposition

Default judgment for plaintiff; defendant's notice of motion dismissed with costs; costs orders as set out.

Orders

  • Note the defendant’s undertaking not to deal with specified funds prior to 4pm on 17 December 2024.
  • Default judgment for the plaintiff in the sum of $2,016,642.47.