Rivkin Financial Services Limited (ACN 061 287 045) v Sofcom Limited (ACN 088 488 724) [2004] FCA 1783

Rivkin Financial Services Limited (ACN 061 287 045) v Sofcom Limited (ACN 088 488 724) [2004] FCA 1783

Neither the principal claim nor cross-claim justified an award of indemnity costs. The plaintiff was ordered to pay the defendants' costs of the claim. The cross-claimants were ordered to pay the costs of the cross-defendants reasonably incurred in defending the cross-claim, except for costs that would have been incurred regardless of the cross-claim’s existence.

Jurisdiction
Australia
Judgment Date
09 December 2004
Procedural Posture
Civil / Post Judgment (costs Order Following Dismissal of Claim and Cross Claim)
Outcome
Principal application and cross-claim dismissed; costs orders made as specified.
Legal Topics
['insider Trading' 'oppression Remedy' 'allotment of Shares' 'costs (indemnity and Standard)' 'proper Purpose Doctrine']
['corporations Law' 'costs'] ['insider Trading' 'oppression Remedy' 'allotment of Shares' 'costs (indemnity and Standard)' 'proper Purpose Doctrine']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Civil / Post Judgment (costs Order Following Dismissal of Claim and Cross Claim)

Legal Issues

  1. 1 ['Whether indemnity costs should be ordered in favour of either side following dismissal of principal claim and cross-claim' 'Appropriate allocation of costs relating to allegations of insider trading and oppression remedies under corporations law' 'Whether cross-claim was justified in all circumstances']

Ratio Decidendi

Neither the principal claim nor cross-claim justified an award of indemnity costs. The plaintiff was ordered to pay the defendants' costs of the claim. The cross-claimants were ordered to pay the costs of the cross-defendants reasonably incurred in defending the cross-claim, except for costs that would have been incurred regardless of the cross-claim’s existence.

Court Disposition

Principal application and cross-claim dismissed; costs orders made as specified.

Orders

  • ["Rivkin Financial Services Limited to pay the defendants' costs of the claim." "The cross-claimants (Khan Companies) to pay all costs reasonably incurred by Rivkin Financial Services Limited in defending the cross-claim, save for those that would have been incurred in any event in the pursuit of RFS's claim." 'The...