Principal Strategic Options Pty Ltd, in the matter of Coshott v Coshott [2001] FCA 664

Principal Strategic Options Pty Ltd, in the matter of Coshott v Coshott [2001] FCA 664

The costs between Strategic Options and Mr Coshott in the bankruptcy proceedings should follow the general rule, with Strategic Options to pay Mr Coshott's costs up to substitution of the petitioning creditor; Mr Coshott is to pay Shipton Thoroughbreds' costs of and incidental to obtaining substitution. Strategic...

Source-derived case information.

Parties
Applicant: Principal Strategic Options Pty Limited; Substituted Applicant: Shipton Thoroughbreds Pty Limited; Respondent: Robert Gilbert Coshott
Jurisdiction
Australia
Judgment Date
06 June 2001
Procedural Posture
Bankruptcy Proceeding / Costs Decision After Dismissal of Petition
Outcome
Costs apportioned as detailed between the parties; no order as to costs in s 50 proceeding except trustee's expenses and remuneration to be paid by Strategic Options.
Legal Topics
Costs, Trustee Appointment, Substitution of Creditor, Bankruptcy Petition, Stay of Execution
Bankruptcy Law Civil Procedure Costs Trustee Appointment Substitution of Creditor Bankruptcy Petition Stay of Execution

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Parties

Principal Strategic Options Pty Limited

Applicant

Shipton Thoroughbreds Pty Limited

Substituted Applicant

Robert Gilbert Coshott

Respondent

Procedural Posture

Bankruptcy Proceeding / Costs Decision After Dismissal of Petition

Legal Issues

  1. 1 Whether the general rule as to costs should be departed from in the bankruptcy proceeding
  2. 2 Relevance of an undertaking as to damages in the appointment of a trustee under s 50 of the Bankruptcy Act
  3. 3 Allocation of costs between original petitioner, substituted petitioner, debtor, and trustee

Ratio Decidendi

The costs between Strategic Options and Mr Coshott in the bankruptcy proceedings should follow the general rule, with Strategic Options to pay Mr Coshott's costs up to substitution of the petitioning creditor; Mr Coshott is to pay Shipton Thoroughbreds' costs of and incidental to obtaining substitution. Strategic Options must pay the trustee's expenses and remuneration in the s 50 proceeding, and otherwise bear its own costs, due to the outcome and the undertaking given as to damages.

Court Disposition

Costs apportioned as detailed between the parties; no order as to costs in s 50 proceeding except trustee's expenses and remuneration to be paid by Strategic Options.

Orders

  • No order as to costs in s 50 proceeding (N 7559/00); Strategic Options to pay the expenses and remuneration of the trustee.
  • Strategic Options to pay Mr Coshott's costs in the bankruptcy proceeding (N 7558/00) up to and including 7 September 2000.