Asia Strategic Investment Alliances Pty Ltd v HIH Casualty & General Insurance Ltd & Ors [1999] NSWSC 601

Asia Strategic Investment Alliances Pty Ltd v HIH Casualty & General Insurance Ltd & Ors [1999] NSWSC 601

Further security for costs should be ordered against the plaintiff, a corporate litigant in liquidation, given the evidence as to its impecuniosity, the absence of persuasive evidence of impecuniosity being caused by defendants, and the reasonable estimate of likely party/party costs (excluding contempt proceedings). The quantum should be $397,750, reflecting proper discounts. Plaintiff's claim is stayed until such security is provided; partial indemnity costs are also ordered for the application.

Jurisdiction
Australia
Judgment Date
31 May 1999
Procedural Posture
Application (notice of Motion) for Security for Costs / Interlocutory (pre Trial) Determination of Security for Costs
Outcome
Application for further security for costs granted.
Legal Topics
['security for Costs' 'impecuniosity' 'party Costs' 'corporations Security for Costs' 'interlocutory Applications']
['civil Procedure' 'corporations Law' 'commercial Law'] ['security for Costs' 'impecuniosity' 'party Costs' 'corporations Security for Costs' 'interlocutory Applications']

Case Brief

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Procedural Posture

Application (notice of Motion) for Security for Costs / Interlocutory (pre Trial) Determination of Security for Costs

Legal Issues

  1. 1 ['Whether the defendants are entitled to further security for costs from the plaintiff under Part 53 Rule 2(e) Supreme Court Rules and s 1335 Corporations Law.' 'The appropriate quantum of security for costs, if any.' 'Whether the inclusion of costs relating to contempt proceedings is appropriate.' "Whether the defendants' cross-claim affects entitlement to security for costs." "Whether the plaintiff's impecuniosity is attributable to defendants' conduct."]

Ratio Decidendi

Further security for costs should be ordered against the plaintiff, a corporate litigant in liquidation, given the evidence as to its impecuniosity, the absence of persuasive evidence of impecuniosity being caused by defendants, and the reasonable estimate of likely party/party costs (excluding contempt proceedings). The quantum should be $397,750, reflecting proper discounts. Plaintiff's claim is stayed until such security is provided; partial indemnity costs are also ordered for the application.

Court Disposition

Application for further security for costs granted.

Orders

  • ['Plaintiff to give further security in the sum of $397,750 for the defendants’ costs to date and up to but not including hearing.' 'Plaintiff’s claims stayed until such security is provided.' 'Defendants have liberty to apply to increase security or for further security for post-hearing costs.' 'Costs of 26 May...