Capital Securities XV Pty Ltd v Calleja (No 3) [2018] NSWSC 1501

Capital Securities XV Pty Ltd v Calleja (No 3) [2018] NSWSC 1501

There is reason to believe the plaintiff will be unable to pay the defendant's costs if ordered; security for costs should be ordered in the amount of $80,000, considering delay, the likely requirement for the defendant to make restitution if successful, and the calculation of relevant costs.

Parties
Plaintiff/respondent: Capital Securities XV Pty Ltd (formerly known as Prime Capital Securities Pty Ltd); Defendant/applicant: Elizabeth Ann Calleja
Jurisdiction
Australia
Judgment Date
11 October 2018
Procedural Posture
Security for Costs Application in Possession Proceedings / After Remittal From Court of Appeal, Pre Retrial
Outcome
Application for security for costs granted
Legal Topics
Security for Costs, Impecuniosity of Plaintiff Company
Civil Procedure Costs Security for Costs Impecuniosity of Plaintiff Company

Case Brief

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Parties

Capital Securities XV Pty Ltd (formerly known as Prime Capital Securities Pty Ltd)

Plaintiff/respondent

Elizabeth Ann Calleja

Defendant/applicant

Procedural Posture

Security for Costs Application in Possession Proceedings / After Remittal From Court of Appeal, Pre Retrial

Legal Issues

  1. 1 Whether security for costs should be ordered against the plaintiff under r 42.21 of the Uniform Civil Procedure Rules 2005 (NSW) or s 1335 of the Corporations Act 2001 (Cth)
  2. 2 Whether there is reason to believe the plaintiff will be unable to pay the defendant's costs if ordered
  3. 3 The appropriate quantum and form of any security

Ratio Decidendi

There is reason to believe the plaintiff will be unable to pay the defendant's costs if ordered; security for costs should be ordered in the amount of $80,000, considering delay, the likely requirement for the defendant to make restitution if successful, and the calculation of relevant costs.

Court Disposition

Application for security for costs granted

Orders

  • Within 14 days the plaintiff is to provide security for the costs of the defendant in the amount of $80,000, by cash deposit or bank guarantee or in some other form acceptable to the Registrar.
  • In the event of security not being provided in accordance with order 1 (a), the proceedings will thereafter be stayed unless and until such security is provided, and (b) the defendant may apply any time after 15 February 2019 for the proceedings to be permanently stayed or struck out.