Garan Holdings Pty Limited v Stonepoint Capital Management (in liq)

The appeal was heard by the Full Court of the Federal Court of Australia, concerning the costs of an interlocutory application in the proceedings between Garan Holdings Pty Limited and Stonepoint Capital Management (in liquidation). Garan Holdings was the plaintiff, and Stonepoint Capital Management, in liquidation, was the defendant. The primary issue before the court was whether the applicant, who was an intervener in the proceedings, was entitled to her costs in interlocutory proceedings. The court also considered whether the plaintiffs' conduct was unreasonable, whether there was a hearing on the merits, and whether indemnity costs should be ordered.

The Full Court considered the principles governing costs in interlocutory proceedings and the exceptional circumstances in which indemnity costs may be awarded. The court noted that the intervener had not participated in any hearing on the merits of the case, and the plaintiffs had ultimately capitulated to the orders sought by the defendant. The court held that the intervener was not entitled to her costs as an intervener. The Full Court further held that the plaintiffs' conduct was not unreasonable, and indemnity costs should not be awarded in the absence of exceptional circumstances.

In light of the above, the Full Court dismissed the appeal and affirmed the orders of the primary judge. The Full Court held that the intervener was not entitled to her costs as an intervener, and indemnity costs should not be awarded. The Full Court also held that the plaintiffs' conduct was not unreasonable, and there were no exceptional circumstances warranting indemnity costs. The appeal was dismissed, and the orders of the primary judge were affirmed.