FORRESTERS NOMINEE COMPANY LIMITED & HUBBARD CHURCHER TRUST MANAGEMENT LIMITED HC TIM CIV-2011-476-000642

FORRESTERS NOMINEE COMPANY LIMITED & HUBBARD CHURCHER TRUST MANAGEMENT LIMITED HC TIM CIV-2011-476-000642

Mrs Hubbard is entitled to an award of costs to be paid from the Hubbard Management Fund on a 3C party and party basis (with an allowance for a second counsel and reasonable disbursements) because she was served and entitled to respond, made a substantial contribution to the proceedings and the orders relied on the distribution method advanced by her counsel; the fact that Mr Hubbard's conduct gave rise to the proceedings does not, of itself, preclude recovery of costs.

Citation
openlaw-ef038e0f_6ce2_4291_8d6a_659122588b23.pdf
Parties
Subject Company: Forresters Nominee Company Limited; Subject Company: Hubbard Churcher Trust Management Limited; Statutory Manager: Richard Grant Simpson; Statutory Manager: Trevor Francis Thornton; Statutory Manager: Graeme Carson McGlinn; Served Investor/party: Mrs Hubbard; Amicus Curiae: N A Till QC
Court
High Court
Jurisdiction
New Zealand
Judgment Date
21 December 2012
Procedural Posture
Statutory Management Under the Corporations (investigation & Management) Act 1989 / Costs Judgment Following Substantive Judgment
Outcome
Order awarding costs to Mrs Hubbard to be paid from the Hubbard Management Fund on a 3C party and party basis with allowance for second counsel and reasonable disbursements; leave reserved to apply for clarification.
Legal Topics
Costs Orders, Party and Party Costs, Solicitor and Client Costs, Amicus Curiae, Statutory Management
Company Law Statutory Management Civil Procedure Costs Costs Orders Party and Party Costs Solicitor and Client Costs Amicus Curiae

Case Brief

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Parties

Forresters Nominee Company Limited

Subject Company

Hubbard Churcher Trust Management Limited

Subject Company

Richard Grant Simpson

Statutory Manager

Trevor Francis Thornton

Statutory Manager

Graeme Carson McGlinn

Statutory Manager

Mrs Hubbard

Served Investor/party

N A Till QC

Amicus Curiae

Procedural Posture

Statutory Management Under the Corporations (investigation & Management) Act 1989 / Costs Judgment Following Substantive Judgment

Legal Issues

  1. 1 Whether Mrs Hubbard's legal costs should be paid from the Hubbard Management Fund
  2. 2 Whether the fact that Mr Hubbard's conduct gave rise to the proceedings precludes Mrs Hubbard from recovering costs from the fund
  3. 3 Appropriate basis for assessing costs (party and party vs solicitor and client)

Ratio Decidendi

Mrs Hubbard is entitled to an award of costs to be paid from the Hubbard Management Fund on a 3C party and party basis (with an allowance for a second counsel and reasonable disbursements) because she was served and entitled to respond, made a substantial contribution to the proceedings and the orders relied on the distribution method advanced by her counsel; the fact that Mr Hubbard's conduct gave rise to the proceedings does not, of itself, preclude recovery of costs.

Court Disposition

Order awarding costs to Mrs Hubbard to be paid from the Hubbard Management Fund on a 3C party and party basis with allowance for second counsel and reasonable disbursements; leave reserved to apply for clarification.

Orders

  • Costs awarded to Mrs Hubbard from the Hubbard Management Fund on a 3C party and party basis
  • Allowance for a second counsel