Where appeal proceedings are near completion and a liquidator identifies no basis for refusing leave, the interests of justice favour granting leave under s 500(2) of the Corporations Act to continue proceedings against a company in liquidation. A specified gross sum costs order under s 98(4)(c) of the Civil Procedure Act is appropriate where the estimate is logical, fair and reasonable, the paying party does not contest it, and formal assessment would involve substantial unrecoverable expense with limited prospect of recovery. Upon crystallisation of a costs entitlement exceeding the amount held as security, the successful party becomes a secured creditor entitled to the security funds.
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