In McConaghy v The Ship MV 2000 (No 3) [2024] QSC 92, the Supreme Court of Queensland ruled on an application for costs following the earlier trial judgment in favour of the plaintiffs, Lawrence McConaghy and Joanne Verney. The court heard arguments from both parties, with the plaintiffs seeking costs as the predominantly successful party and the defendants, Fortitude Investments Australia Pty Ltd, alleging the plaintiffs' conduct was unreasonable and arguing they should bear the defendants' costs.
Justice Henry found that while both parties exhibited some degree of unreasonable conduct throughout the litigation, the plaintiffs were substantially successful in most of the issues at trial. The court held that the plaintiffs' conduct did not justify a more favourable outcome for the defendants. Consequently, the defendants were ordered to pay 70 per cent of the plaintiffs' costs, assessed on the standard basis. Additionally, the court provided liberty to apply in connection with the security upon giving two business days' notice in writing.