Ozmen Entertainment Pty Ltd v Neptune Hospitality Pty Ltd (No 3)

The case of Ozmen Entertainment Pty Ltd v Neptune Hospitality Pty Ltd (No 3) involves a joint venture to operate a hospitality business on a vessel. The dispute centres on the parties' rights and obligations under their joint venture agreement and the need for interim orders regarding the vessel and business. The court was required to decide several legal issues, including whether to appoint a receiver and manager, to order payment of profits or shared costs, and to determine security for costs.

The court granted the application for the appointment of a receiver and manager, finding that the relationship between the parties had deteriorated and that it was appropriate to re-agitate the issue in light of recent events. The court refused the interlocutory applications for payment of profits and shared costs, as these matters involved disputed accounting records and competing legal arguments that should be decided at the final hearing. Regarding security for costs, the court ordered the plaintiffs to provide security for the defendant's costs of the proceeding but refused to order payment of security for past costs, instead directing that the security for future costs be provided from funds not held in trust.

In summary, the court granted the application for the appointment of a receiver and manager, refused the applications for payment of profits and shared costs, and ordered the plaintiffs to provide security for the defendant's costs of the proceeding. The court directed the parties to discuss the proposed form of orders for the appointment of a receiver and to provide draft short minutes of order for a case management hearing.