Kirwan v Cresvale Far East Ltd (in Liq) (No 2)

The appeal and cross-appeal concerned orders made by the Supreme Court of New South Wales in a dispute involving Mr Kirwan and Cresvale Far East Ltd (in liquidation). The primary dispute revolved around declarations and orders concerning share allotments and associated costs.

The court was required to determine whether to uphold or vary the declarations and cost orders made by the primary judge. Specifically, the court had to consider the conditions attached to declarations regarding share subscriptions, the allocation of costs between parties on particular issues, and the liability for interest on a sum of money.

The court allowed the appeal in part, setting aside one declaration and varying two others by imposing a condition that the first defendant repay a sum of $100,000 subscribed for shares. The court also varied a cost order to reflect that the plaintiff and third defendant were to pay the fourth defendant's costs on the issue of whether Mr Kirwan's share allotment should be set aside. Furthermore, the court declared the first defendant liable to pay interest on the $100,000. The cross-appeal was also allowed in part, leading to variations in cost orders concerning the second defendant's personal liability and indemnity rights. The first, second, and fourth respondents were ordered to pay the appellant's costs of the appeal.