Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd

Ingot Capital Investments Pty Ltd (the appellant) appealed against a decision of the Supreme Court of New South Wales. The dispute concerned an application for an extension of time to file a cross-appeal. The primary judge had made orders in favour of Macquarie Equity Capital Markets Ltd (the respondent).

The central legal issue before the Court of Appeal was whether an extension of time should be granted for the appellant to file a cross-appeal. The appellant sought this extension on the grounds that the primary judge had failed to consider whether certain "Causation Allegations" had been established. A further question arose as to whether time for filing the cross-appeal ran until leave to proceed against the appellant, a company in liquidation, was granted.

Giles JA determined that it was not necessary to decide the precise point at which time began to run, as leave to proceed against the appellant had been granted *nunc pro tunc* from an earlier date. Crucially, his Honour found that the Causation Allegations had indeed been considered and rejected by the primary judge. Consequently, the appellant had not demonstrated an arguable case for the extension of time.

The application for an extension of time was dismissed, and the appellant was ordered to pay the costs of the Guy Carpenter parties.