A trial judge exercising the costs discretion in proceedings by a minority shareholder objecting to a selective reduction of capital under Part 2J.1 of the Corporations Act 2001 (Cth) is not required to follow the approach of Santow J in Winpar, which treated selective reductions as functionally equivalent to compulsory acquisitions for costs purposes. The normal rule that costs follow the event applies, and the judge may take into account the strength of the objector's case and whether the objector acted individually or representatively.
The full text is available to signed-in members.