T and T Investments Australia Pty Limited v CGU Insurance Limited

T and T Investments Australia Pty Limited (the appellant) sought an adjournment of an appeal hearing against CGU Insurance Limited (the respondent) on the day the hearing was scheduled. The appeal concerned issues of practice and procedure, including applications for adjournment and costs, as well as matters relating to corporations and directors and officers. The Court of Appeal of New South Wales was required to determine whether to grant the adjournment, the basis on which costs thrown away by the adjournment should be awarded, and whether to award indemnity costs.

The Court considered the appellant's application for an adjournment made on the day of the hearing. It determined that the costs thrown away by the adjournment should be awarded on the ordinary basis, rather than indemnity costs. The Court also addressed the issue of security for costs, including the costs of the appeal and the costs thrown away by the adjournment.

The Court reasoned that while an adjournment was granted, the circumstances did not warrant an award of indemnity costs. The Court applied principles relating to the award of costs thrown away by an adjournment, considering the timing of the application and the prejudice to the respondent. The Court also directed the appellant to pay a sum into court as further security for the costs of the appeal and stayed the appeal pending the provision of this security.

The Court ordered that the hearing be vacated and that the appellant pay the respondent's costs thrown away on the ordinary basis, assessing these costs at $12,000. This sum was to be paid from existing security. The appellant was further ordered to pay an additional $12,000 as further security for the costs of the appeal within 28 days, with the appeal stayed until this security was provided. The appellant was also directed to apply to the Registrar to list the appeal for further directions within 14 days of providing the further security.