The Australian Special Opportunity Fund LP v Equity Trustees Wealth Services Ltd (No 2)

The Australian Special Opportunity Fund LP (the appellant) appealed to the Court of Appeal of New South Wales against orders made by Black J in proceedings against Equity Trustees Wealth Services Ltd (the respondent). The dispute concerned the respondent's conduct in relation to certain investments and the appellant's subsequent claims for damages and equitable compensation.

The Court of Appeal was required to determine the appropriate orders for costs, both in relation to the appeal itself and the proceedings below, particularly given that the appellant was successful on some grounds of appeal but not others, and the matter was remitted for further determination.

The Court ordered that the costs referable to the determination of the cross-claim be determined by the judge hearing the appellant's claim for damages or equitable compensation. Furthermore, the Court ordered that the respondent pay 50% of the appellant's costs of the appeal, reflecting the partial success of the appellant on appeal.