Kirova Holdings Pty Limited v Commonwealth Bank of Australia [2025] NSWSC 98

Kirova Holdings Pty Limited v Commonwealth Bank of Australia [2025] NSWSC 98

Security for costs ordered against the first plaintiff as there is reason to believe it cannot meet an adverse costs order, with proceedings stayed if security is not provided within 28 days.

Source-derived case information.

Parties
First Plaintiff: Kirova Holdings Pty Limited; Second Plaintiff: Nashaat Sedhom; Defendant: Commonwealth Bank of Australia
Jurisdiction
Australia
Judgment Date
21 February 2025
Procedural Posture
Commercial Proceedings / Interlocutory Application for Security for Costs
Outcome
Security for costs ordered; proceedings stayed if security not provided.
Legal Topics
Security for Costs, Procedural Orders
Civil Procedure Security for Costs Procedural Orders

Source-derived case record

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Parties

Kirova Holdings Pty Limited

First Plaintiff

Nashaat Sedhom

Second Plaintiff

Commonwealth Bank of Australia

Defendant

Procedural Posture

Commercial Proceedings / Interlocutory Application for Security for Costs

Legal Issues

  1. 1 Whether security for costs should be ordered against the plaintiff.
  2. 2 Whether proceedings should be stayed if security is not provided.

Ratio Decidendi

Security for costs ordered against the first plaintiff as there is reason to believe it cannot meet an adverse costs order, with proceedings stayed if security is not provided within 28 days.

Court Disposition

Security for costs ordered; proceedings stayed if security not provided.

Orders

  • Grant Mr Sedhom leave to appear for the plaintiff company today.
  • First plaintiff to provide security for costs of the defendant in the sum of $188,587.50 within 28 days, either by payment into court or unconditional bank guarantee as specified.