20 Dec 2011
S H LOCK (NZ) LIMITED V NEW ZEALAND BLOODSTOCK LEASING LIMITED AND NEW ZEALAND BLOODSTOCK FINANCE LIMITED AND NEW ZEALAND BLOODSTOCK PROGENY LIMITED COA CA563/2011
- Citation
- COA CA563/2011
- Court
- Court of Appeal
The appeal was allowed because Lock was not the real party to the claim nor the substantive funder: its only financial involvement was paying security for costs at the liquidator's request which was a limited, indirect contribution; counsel's agreement to act on conditional/unpaid fees was the dominant causative factor allowing the litigation to proceed; on the Dymocks principles it was not just to order Lock to pay Bloodstock's costs and such an order would risk deterring creditor support for liquidator litigation.