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High Court, delivering a supplemental judgment following issue of its substantive decision to refuse insolvent company's statutory application to remove liquidator from his post in managing the company's affairs, finds that: (1) the liquidator is entitled to an order for costs given that he was successful in resisting the company's application; (2) the 'event' for costs purposes was the failed application; (3) there are no special circumstances which would persuade the court to depart from the usual rule that costs follow the event; and (4) a stay is to be placed on execution of such costs pending determination of any appeal that may be brought against the court's substantive order in circumstances where it is 'prudent and appropriate' to do so.
Legal costs - company's unsuccessful application to remove during period of voluntary liquidation - costs of proceedings - general rule as to costs - exceptions to general rule - notice party's involvement in application - applicant previously admitted to cross-examine by order of High Court - alleged 'significant new information' which came to light during currency of hearing - whether all information disclosed by successful respondent - whether certain material underlying facts 'changed the landscape' at time application was made - costs in the cause - 'event' for legal costs purposes - reserved costs of related motion to cross-examine to be costs in the cause - respondent not obliged to divulge certain information beforehand to applicant which came to light during hearing of application - no discovery sought - no material lack of transparency - no 'change of landscape' event - application for a stay on execution of costs in event of appeal - prudent and appropriate to grant stay.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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