Mallina Holdings Ltd v Biala Pty Ltd & Anor [1997] FCA 32

Mallina Holdings Ltd v Biala Pty Ltd & Anor [1997] FCA 32

The applicant is to bear its own costs up to and including 15 November 1996, but thereafter, as the successful party, is entitled to its costs against the respondents; respondents are also to pay one-third of the intervening Underwriter’s (Hudson Corporate Pty Ltd) costs. No order as to costs for or against TDS Investments Pty Ltd. The respondents' opposition did not achieve sufficient success to disturb the usual order that costs follow the event.

Jurisdiction
Australia
Judgment Date
04 February 1997
Procedural Posture
Application to Confirm Proposed Issue of Shares at a Discount / Post Judgment, Reasons and Orders on Costs
Outcome
Costs orders made as follows: applicant to bear its own costs up to 15 November 1996; thereafter respondents to pay applicant's costs and one-third of Hudson Corporate Pty Ltd’s costs; no order as to costs for or against TDS Investments Pty Ltd.
Legal Topics
['costs' 'issue of Shares at a Discount' 'orders After Judgment' 'intervenors’ Costs']
['practice and Procedure' 'corporations Law'] ['costs' 'issue of Shares at a Discount' 'orders After Judgment' 'intervenors’ Costs']

Case Brief

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Procedural Posture

Application to Confirm Proposed Issue of Shares at a Discount / Post Judgment, Reasons and Orders on Costs

Legal Issues

  1. 1 ['How costs should be apportioned after a contested application to confirm a proposed issue of shares at a discount under s.190 of the Corporations Law.' 'Whether the applicant should receive its costs after a successful application subject to conditions.' 'Whether intervenors are entitled to their costs against the respondents.']

Ratio Decidendi

The applicant is to bear its own costs up to and including 15 November 1996, but thereafter, as the successful party, is entitled to its costs against the respondents; respondents are also to pay one-third of the intervening Underwriter’s (Hudson Corporate Pty Ltd) costs. No order as to costs for or against TDS Investments Pty Ltd. The respondents' opposition did not achieve sufficient success to disturb the usual order that costs follow the event.

Court Disposition

Costs orders made as follows: applicant to bear its own costs up to 15 November 1996; thereafter respondents to pay applicant's costs and one-third of Hudson Corporate Pty Ltd’s costs; no order as to costs for or against TDS Investments Pty Ltd.

Orders

  • ['The applicant is to bear its own costs in respect of the application to and including 15 November 1996.' "The respondents shall pay the applicant's costs after 15 November 1996." 'The respondents shall pay one-third of the costs of Hudson Corporate Pty Ltd (Underwriter).' 'No order as to costs for or against TDS...