Lawrence Edward Stewart v The Australian and New Zealand Banking Group Limited (Costs)

HIS HONOUR: On 16 November 2020 I delivered judgment, the result of which was that the plaintiffs’ Commercial List Statement was struck out in its entirety on the defendant’s motion: Lawrence Edward Stewart v The Australian and New Zealand Banking Group Limited [2020] NSWSC 1787.

I made directions for the parties to make written submissions on costs. I received submissions from both sides. The defendant seeks an order that the plaintiffs pay the costs of its motion, which was to dismiss or alternatively to strike out. The plaintiffs contend that each party should pay their own costs because, as opposed to the proceedings having been dismissed, the Court only struck out their Commercial List Statement so that, they say, they had a measure of success.

I do not see the plaintiffs as having had any measure of success on the Motion. It is merely that they avoided an even more profound loss. The defendant wholly succeeded in its alternative claim for a striking out, which the plaintiffs stoutly resisted.

There is no reason why costs should not follow the event in accordance with the applicable conventional principles.

The plaintiffs are to pay the defendant’s costs of its motion filed 2 October 2020.