Fanma Pty Ltd v Ryan Kay [2023] NSWSC 419

Fanma Pty Ltd v Ryan Kay [2023] NSWSC 419

There has been a material change in circumstances since the first security for costs application—specifically, further evidence served, new allegations, increased hearing time, and substantial expert reports—justifying a further order for security. The delay in bringing the application did not warrant refusal, given procedural history and party correspondence. Quantum was determined using estimates from both solicitors, leading to an order for further security in the amount of $210,000.

Jurisdiction
Australia
Judgment Date
20 April 2023
Procedural Posture
Security for Costs Application / Procedural Ruling Following Hearing
Outcome
Plaintiff ordered to provide further security for costs.
Legal Topics
['security for Costs' 'corporate Plaintiff' 'delay' 'quantum of Security']
['civil Procedure' 'equity'] ['security for Costs' 'corporate Plaintiff' 'delay' 'quantum of Security']

Case Brief

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Procedural Posture

Security for Costs Application / Procedural Ruling Following Hearing

Legal Issues

  1. 1 ['Has there been a material change in circumstances since the first application for security for costs?' 'Does delay in bringing the application warrant refusal?' 'What is the appropriate quantum of security for costs?']

Ratio Decidendi

There has been a material change in circumstances since the first security for costs application—specifically, further evidence served, new allegations, increased hearing time, and substantial expert reports—justifying a further order for security. The delay in bringing the application did not warrant refusal, given procedural history and party correspondence. Quantum was determined using estimates from both solicitors, leading to an order for further security in the amount of $210,000.

Court Disposition

Plaintiff ordered to provide further security for costs.

Orders

  • ["Plaintiff to provide further security for the second defendant's costs in the sum of $210,000."]