Signum Holdings Limited v Okuora Holdings Limited

[2023] NZHC 3534

IN THE HIGH COURT OF NEW ZEALAND CHRISTCHURCH REGISTRY

I TE KŌTI MATUA O AOTEAROA ŌTAUTAHI ROHE

CIV-2023-409-152

[2023] NZHC 3534

BETWEEN

SIGNUM HOLDINGS LIMITED

Applicant

AND

OKUORA HOLDINGS LIMITED

Respondent

Hearing:	On the papers
Counsel:	D K Kalderimis and T J Powell for Respondent
Judgment:	5 December 2023

JUDGMENT OF ASSOCIATE JUDGE PAULSEN

(Costs)

This judgment was delivered by me on 5 December 2023 at 4.30 pm pursuant to Rule 11.5 of the High Court Rules.

Registrar/Deputy Registrar Date:

SIGNUM HOLDINGS LIMITED v OKUORA HOLDINGS LIMITED [2023] NZHC 3534 [5 December 2023]

[1]        In a judgment of 1 November 2023, I dismissed the application by Signum Holdings Ltd (Signum), to set aside a statutory demand issued to it by Okuora Holdings Ltd (Okuora).1 I held Okuora was entitled to costs and directed counsel to confer and file memoranda if they could not agree on costs.

[2]        Agreement was not reached on costs. On 8 November 2023, Signum was put into liquidation by special resolution of its shareholders. On 17 November 2023, Signum’s liquidators advised they were not privy to the background of the proceeding and would abide the Court’s decision on costs.

[3]        Okuora submits that whilst this was an application to set aside a statutory demand it was also a complex matter because of the detailed factual background, the volume of documentation submitted to the Court, and the legal issues arising from a novel undue influence argument relied upon by Signum.

[4]        Okuora has submitted a calculation of the costs claimed. In respect to it, I accept this is a category 2 proceeding for costs purposes. While I also accept some time allocations for steps in the proceeding should be assessed as band C, I consider others should not. I also do not consider step 32 applies to originating applications.

[5]        I consider the disbursements claimed were all necessarily and reasonably incurred.

[6]I award costs in accordance with the table below:

1      Signum Holdings Ltd v Okuora Holdings Ltd [2023] NZHC 3041.

Step	Description	Allocation	Amount
48	Issuing statutory demand	0.2	$478
38	Filing opposition to originating application and supporting affidavits	6.0	$14,340
40	Preparation of written submissions	1.5	$3,585
42	Appearance at hearing of defended application for sole or principal counsel	1.0	$2,390
43	Second counsel	0.5	$1,195
29	Sealing judgment	0.2	$478
Total	9.4	$22,466
Counsel disbursements		Cost
Flights		$856.90
Accommodation		$492.00
Transport		$265.88
Filing fee		$110.00
Total		$1,724.78

Result

[7]        Okuora is awarded costs against Signum in the sum of $22,466 together with disbursements of $1,724.78.

O G Paulsen Associate Judge

Solicitors:

Meredith Connell, Auckland

Harmos Horton Lusk Limited, Auckland