R&B Investments Pty Ltd (Trustee) v Blue Sky Alternative Investments Limited (in liq) (Adoption of Referee's Report) [2024] FCA 1083

R&B Investments Pty Ltd (Trustee) v Blue Sky Alternative Investments Limited (in liq) (Adoption of Referee's Report) [2024] FCA 1083

The applicants failed to demonstrate manifest error or any error of principle in the referee’s report; the report was fairly and reasonably arrived at and should be adopted. The alleged errors were not substantiated and the referee's reasoning was sound in excluding costs relating to unnecessary or premature work.

Source-derived case information.

Parties
Applicant: R&B Investments Pty Ltd as Trustee for the R&B Pension Fund; Applicant: David Furniss; First Respondent: Blue Sky Alternative Investments Limited ACN 136 866 236 (Administrators Appointed) (Receivers and Managers Appointed) (in liquidation); Second Respondent: Robert Warner Shand; Third Respondent: John Bruce Kain; Fourth Respondent: Ernst & Young (A Firm) ABN 75 288 172 749; Fifth Respondent: Chubb Insurance Australia Limited ACN 001 642 020; Sixth Respondent: DUAL Australia Pty Ltd ACN 107 553 257 On Behalf Of Certain Underwriters at Lloyd's; Seventh Respondent: Zurich Australian Insurance Limited ACN 000 296 640; Eighth Respondent: XL Insurance Company SE ARBN 083 570 441; Costs Applicants / Former Respondents: Former Third, Fourth and Tenth Respondents (including Mr Wilson, Mr Dignam, Ms Stead)
Jurisdiction
Australia
Judgment Date
11 September 2024
Procedural Posture
Representative Proceedings / Post Discontinuance, Application to Adopt/vary Referee's Report on Costs
Outcome
Adoption of referee's report; specific order for payment of costs.
Legal Topics
Costs in Representative Proceedings, Referee's Reports, Adoption of Report, Varying Reports, Lump Sum Costs
Commercial and Corporations Corporations and Corporate Insolvency Costs in Representative Proceedings Referee's Reports Adoption of Report Varying Reports Lump Sum Costs

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Parties

R&B Investments Pty Ltd as Trustee for the R&B Pension Fund

Applicant

David Furniss

Applicant

Blue Sky Alternative Investments Limited ACN 136 866 236 (Administrators Appointed) (Receivers and Managers Appointed) (in liquidation)

First Respondent

Robert Warner Shand

Second Respondent

John Bruce Kain

Third Respondent

Ernst & Young (A Firm) ABN 75 288 172 749

Fourth Respondent

Chubb Insurance Australia Limited ACN 001 642 020

Fifth Respondent

DUAL Australia Pty Ltd ACN 107 553 257 On Behalf Of Certain Underwriters at Lloyd's

Sixth Respondent

Zurich Australian Insurance Limited ACN 000 296 640

Seventh Respondent

XL Insurance Company SE ARBN 083 570 441

Eighth Respondent

Former Third, Fourth and Tenth Respondents (including Mr Wilson, Mr Dignam, Ms Stead)

Costs Applicants / Former Respondents

Procedural Posture

Representative Proceedings / Post Discontinuance, Application to Adopt/vary Referee's Report on Costs

Legal Issues

  1. 1 Whether the report of the costs referee should be adopted or varied
  2. 2 Whether the referee made fundamental errors in assessment of costs

Ratio Decidendi

The applicants failed to demonstrate manifest error or any error of principle in the referee’s report; the report was fairly and reasonably arrived at and should be adopted. The alleged errors were not substantiated and the referee's reasoning was sound in excluding costs relating to unnecessary or premature work.

Court Disposition

Adoption of referee's report; specific order for payment of costs.

Orders

  • The report of the Costs Referee dated 21 November 2023 be adopted by the Court.
  • R&B Investments pay the costs of the former third, fourth and tenth respondents in the amount of $88,258.16.