Re Dungowan Manly Pty Ltd (in liq)

The case involved the liquidators of Dungowan Manly Pty Ltd, which had entered into a transaction with another party. The liquidators sought to set aside the transaction as a transaction at an undervalue, and the opposing party counterclaimed for interest on a sum of money. The matter was heard in the Supreme Court of New South Wales.
The legal issues before the court were whether the form of the orders proposed by the liquidators was appropriate, the allocation of costs between the parties, and whether interest should be awarded under section 100 of the Civil Procedure Act 2005 (NSW).
The court held that the form of the orders proposed by the liquidators was appropriate to give effect to the primary judgment. The court found that the liquidators were entitled to costs for the proceeding but that the costs should not be taxed in the usual manner. The court also held that interest should not be awarded under section 100 of the Civil Procedure Act 2005 (NSW), as the circumstances did not warrant it.
The court made orders setting aside the transaction as a transaction at an undervalue and dismissing the counterclaim for interest. The court also ordered that the liquidators' costs be paid by the opposing party, but that the costs be assessed by agreement between the parties or, failing agreement, by the court.