Cleary Bros (Parramatta) Pty Limited; Parker Constructions Pty Limited; Icehot Pty Limited; Michael Francis Buggy v Commonwealth Bank of Australia; National Australia Bank Limited; Victorian Securities Corporation...

The case involves a dispute between multiple plaintiffs, including Cleary Bros (Parramatta) Pty Limited, Parker Constructions Pty Limited, Icehot Pty Limited, and Michael Francis Buggy, against four defendants: the Commonwealth Bank of Australia, National Australia Bank Limited, and Victorian Securities Corporation. The plaintiffs initiated legal proceedings against the defendants, but the action of the fourth plaintiff, Michael Francis Buggy, was abandoned by his trustee in bankruptcy. The court was required to determine whether Buggy's action could be continued despite the bankruptcy and whether the plaintiffs' application for an adjournment of the hearing for security for costs should be granted.

The court ruled that Buggy's action against all four defendants should be dismissed because it could not continue in any form due to his bankruptcy. The court further found that the plaintiffs had failed to take the necessary steps to be ready to hear the application for security for costs, as they had only instructed a new solicitor two working days before the hearing date. The court held that the application for an adjournment was not warranted under the circumstances.

Consequently, the court dismissed the action of the fourth plaintiff against all four defendants. Michael Francis Buggy was ordered to pay the costs of his action from 1 July 2008 until 8 August 2011. The application for an adjournment was refused, and the application for security for costs was heard immediately.