Following a commercial receivership application, the court determined entitlement and quantum of costs.
The moving party had been substantially successful in enforcing its security and was presumptively entitled to costs against the debtor respondents.
Relying on the security agreement, the court held that the contractual provision requiring payment of “solicitor and own client costs” justified an award on a substantial indemnity basis against the corporate debtors and one individual debtor.
However, a separate individual respondent who was not party to the security agreement was ordered to pay costs only on a partial indemnity basis.
Mortgagee respondents who successfully narrowed the scope of the receivership order were ordered to bear their own costs in relation to the issues between them and the applicant.