Waterproofing Technologies Pty Limited v Perri (No 6)

FEDERAL COURT OF AUSTRALIA

Waterproofing Technologies Pty Limited v Perri (No 6) [2025] FCA 1080  

File number(s):

NSD 660 of 2021

Judgment of:

MOORE J

Date of judgment:

3 September 2025

Catchwords:

PRACTICE AND PROCEDURE – security for costs – where previous decision to the effect that no security would be ordered if certain undertakings provided – where undertakings in that form now provided – application for security dismissed – where explanation had been required in respect of potentially misleading statements as to the true financial position of the applicants – where the further explanation provided was unsatisfactory and necessitated further order – where no satisfactory and comprehensive explanation of how the misleading submissions came to be made was provided

Cases cited:

Waterproofing Technologies Pty Limited v Perri (No 3) [2025] FCA 934

Waterproofing Technologies Pty Limited v Perri (No 5) [2025] FCA 986

Division:

General Division

Registry:

New South Wales

National Practice Area:

Commercial and Corporations

Sub-area:

Corporations and Corporate Insolvency

Number of paragraphs:

18

Date of last submissions: 

2 September 2025

Date of hearing:

1 May 2025, 26 August 2025

Counsel for the Applicants:

Mr J Simpkins

Solicitor for the Applicants:

McCabes Lawyers

Counsel for the First, Second, Third, Sixth, Eighth and Eleventh Respondents:

Mr S Horgan KC and Mr A Ford

Solicitor for the First, Second, Third, Sixth, Eighth and Eleventh Respondents:

Greenwich Legal

Counsel for the Ninth Respondent:

Mr L Magowan

Solicitor for the Ninth Respondent:

Schembri + McCluskys

ORDERS

NSD 660 of 2021

BETWEEN:

WATERPROOFING TECHNOLOGIES PTY LTD ACN 152 481 215

First Applicant

POLYSEAL WATERPROOFING VICTORIA PTY LTD ACN 086 669 650

Second Applicant

AND:

LUIGI PERRI

First Respondent

CCBM BARE PTY LTD ACN 162 850 731

Second Respondent

MILLENIUM HOMES PTY LTD ACN 096 371 667 (and others named in the Schedule)

Third Respondent

ORDER MADE BY:	MOORE J
DATE OF ORDER:	20 AUGUST 2025

UPON:

(a)the giving of an undertaking by the first applicant dated 26 August 2025 and provided to the Court, being an undertaking to the first, second, third, sixth, eighth and eleventh respondents (the relevant respondents) and to the Court to meet any obligation of the second applicant pursuant to any costs order in these proceedings in favour of any of the relevant respondents;

(b)the giving of an undertaking by Athanaseris Holdings Pty Limited dated 22 August 2025 and provided to the Court, being an undertaking to the relevant respondents and to the Court that, in the event and to the extent that the assets of the first applicant are insufficient to meet any obligation in relation to any costs orders in these proceedings in favour of any of the relevant respondents (including any obligation pursuant to the undertaking in (a) above), Athanaseris Holdings Pty Limited will forgive the debt owed to it by the first applicant to the extent necessary to enable the first applicant to meet that obligation; and

(c)the giving of an undertaking by Athanaseris Holdings Pty Limited dated 22 August 2025 and provided…