Equititrust Ltd & Anor v Franks (No 2)

The appeal before the Court of Appeal of New South Wales concerned a dispute between Equititrust Ltd and another party (appellants) and Mr. Franks (respondent). The primary issue revolved around the quantum of a judgment awarded in the Equity Division, which the appellants sought to vary.

The court was required to determine whether the original judgment amount was correctly calculated and, consequently, whether the distribution of funds held in court should be altered. Additionally, the court considered an application for leave to appeal against prior costs orders and the costs of the appeal itself.

The Court of Appeal allowed the appeal in part, varying the original judgment from $427,869 to $274,797.58, effective from 4 April 2008. This revised sum, along with accrued interest, was to be distributed between the solicitors for the respondent and the solicitors for the appellants according to specific terms. The application for leave to appeal against the costs orders of 4 April 2008 was dismissed, and no order was made as to the costs of the appeal.