Prynew Pty Limited & Anor v Nemeth & Ors [2010] NSWCA 94

Prynew Pty Limited & Anor v Nemeth & Ors [2010] NSWCA 94

Security for costs was ordered against Prynew because both Prynew and Mr Tsu were unable to meet a possible costs order, Mr Tsu's personal guarantee was insufficient given his limited means, and the claims of the co-appellants were not co-extensive; thus, the court's discretion favoured ordering security.

Jurisdiction
Australia
Judgment Date
06 May 2010
Procedural Posture
Appeal / Interlocutory Application for Security for Costs
Outcome
Order for security for costs granted against Prynew Pty Limited.
Legal Topics
['security for Costs' 'impecuniosity' 'corporations Act S 1335' 'bank Guarantee']
['civil Procedure' 'costs'] ['security for Costs' 'impecuniosity' 'corporations Act S 1335' 'bank Guarantee']

Case Brief

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Procedural Posture

Appeal / Interlocutory Application for Security for Costs

Legal Issues

  1. 1 ['Whether security for costs should be ordered against an impecunious corporate appellant when a co-appellant offers to guarantee costs' 'Whether a personal guarantee by a co-appellant of limited means suffices as security for costs' 'Extent to which claims of co-appellants are co-extensive for security applications']

Ratio Decidendi

Security for costs was ordered against Prynew because both Prynew and Mr Tsu were unable to meet a possible costs order, Mr Tsu's personal guarantee was insufficient given his limited means, and the claims of the co-appellants were not co-extensive; thus, the court's discretion favoured ordering security.

Court Disposition

Order for security for costs granted against Prynew Pty Limited.

Orders

  • ["Prynew to provide security for Piling's costs of the appeal in the sum of $50,000 by 28 May 2010." 'Such security to be provided by way of bank guarantee.' "Prynew to pay Piling's costs of the notice of motion." 'The matter involving all parties be stood over for further directions to 1 June 2010.']