McGraw-Hill Financial, Inc (now known as S& P Global, Inc) v Mitsub Pty Ltd (Trustee) [2017] FCAFC 11

McGraw-Hill Financial, Inc (now known as S& P Global, Inc) v Mitsub Pty Ltd (Trustee) [2017] FCAFC 11

The order made by the primary judge on 18 May 2016 was ambiguous, burdensome, premised on mistaken findings, and was a wrong exercise of discretion. Leave to appeal granted, the appeal allowed, and the order set aside.

Jurisdiction
Australia
Judgment Date
02 February 2017
Procedural Posture
Application for Leave to Appeal and Appeal / Full Court Appeal and Leave to Appeal From Interlocutory Order
Outcome
Appeal allowed, leave to appeal granted.
Legal Topics
['class Actions' 'rating Agencies Liability' 'court Orders' 'case Management' 'financial Product Ratings']
['practice and Procedure' 'corporations Law' 'commercial Law'] ['class Actions' 'rating Agencies Liability' 'court Orders' 'case Management' 'financial Product Ratings']

Case Brief

Summary, issues, holding and outcome

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Procedural Posture

Application for Leave to Appeal and Appeal / Full Court Appeal and Leave to Appeal From Interlocutory Order

Legal Issues

  1. 1 ['Whether the docket judge had power to make the 18 May 2016 order requiring CEOs to file affidavits regarding application of findings in other proceedings' 'Whether the 18 May 2016 order was appropriate in the context of case management' 'Whether the exercise of discretion miscarried based on House v The King principles']

Ratio Decidendi

The order made by the primary judge on 18 May 2016 was ambiguous, burdensome, premised on mistaken findings, and was a wrong exercise of discretion. Leave to appeal granted, the appeal allowed, and the order set aside.

Court Disposition

Appeal allowed, leave to appeal granted.

Orders

  • ['Leave to appeal granted to applicants from the order made by Rares J on 18 May 2016 in NSD 1344 of 2015.' 'Draft Notice of Appeal received on 1 June 2016 to stand as the Notice of Appeal.' 'Appeal allowed.' 'Order made by Rares J on 18 May 2016 in NSD 1344 of 2015 set aside.' 'Costs of appellants and incidental to...