Federal Court proceedings against former CPL directors and officers

6 March 2013

In September 2012 Messr Stephen McCormick (third respondent, first cross-claimant) lodged an application to have his cross claim determined in full prior and separately to the hearing of Trilogy’s claim. Mr McCormick’s motion, which Trilogy opposed, claimed that he ought to be indemnified by Trilogy (in its capacity as RE of the Fund) for legal costs he incurred in defending Trilogy’s claim against him, at least until Trilogy’s claim is determined.

At the 14 December 2012 directions hearing, Mr McCormick was granted a further extension of time until 31 January 2013 to tender evidence in support of his claim, which he failed to do, breaching court orders. He subsequently confirmed that no further evidence will be filed on his behalf in response to Trilogy’s claim. Separately, the other defendants (Messrs Sullivan, Donaldson and Swan) were granted an extension until 31 January 2013 to furnish additional expert evidence, also failing to do so, in breach of court orders. In February 2013 they confirmed that no additional expert evidence will be filed.

On Tuesday, 26 February 2013, Mr McCormick’s application was dismissed by Justice Emmett, who ordered Mr McCormick to pay Trilogy’s legal costs pertaining to that application.

The next hearing is scheduled for 14 March 2013 to determine whether a trial date can be allocated. Justice Emmett, who has presided over the proceedings since their inception in April 2012, has been appointed to the NSW Court of Appeal effective 7 March 2013, and a new judge is expected to be appointed in his place in the coming weeks.

Should you have any queries, please contact Balmain Trilogy Client Services on Freecall 1800 194 500 or email contact@balmaintrilogy.com.au