Recent Cases

Anderson v Canaccord Genuity Financial Ltd [2022] NSWCA 168 (30 August 2022) (Basten AJA)


Catchwords:


APPEALS – security for costs – special circumstances – length and complexity of appeal – whether grounds reasonably arguable – respondents’ estimates of likely costs of appeal – appellant’s impecuniosity – overseas residence of appellant – circumstances of those likely to benefit from success – availability of litigation funding – whether lawyers with unpaid costs reasonably expected to fund appeal – Uniform Civil Procedure Rules 2005 (NSW), rr 42.21, 51.50

APPEALS – stay of order for assessment of costs of trial – assessment referred to referee – expenses to be incurred in reference – possible futility – likely stay of enforcement of payment of costs if assessed – parties to focus on appeal – overriding principle of expeditious resolution of proceedings – undertaking not to dispose of assets

CORPORATIONS – directors and officers – diversion of commercial opportunity – fiduciary duties – knowing assistance – other corporations’ participation in breaches – vicarious liability for officer’s breach of duty – damages for loss of a chance