GAIN Capital UK Limited v Citigroup Inc [2015] FCA 1009

GAIN Capital UK Limited v Citigroup Inc [2015] FCA 1009

The appellant, a foreign corporation, has not demonstrated sufficient assets within Australia to satisfy any costs order. The appeal, though characterized as defensive by the appellant, is not such that security ought to be withheld. The Court follows Sumatra Tobacco Trading and orders that security for costs be...

Source-derived case information.

Parties
Appellant: GAIN Capital UK Limited; Respondent: Citigroup Inc
Jurisdiction
Australia
Judgment Date
14 September 2015
Procedural Posture
Appeal / Application for Security for Costs
Outcome
Application granted
Legal Topics
Security for Costs, Appeal From Registrar of Trade Marks, Defensive Nature of Appeal, Discretion to Order Security
Practice and Procedure Security for Costs Appeal From Registrar of Trade Marks Defensive Nature of Appeal Discretion to Order Security

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Parties

GAIN Capital UK Limited

Appellant

Citigroup Inc

Respondent

Procedural Posture

Appeal / Application for Security for Costs

Legal Issues

  1. 1 Whether appellant should provide further security for respondent's costs
  2. 2 Whether appellant's appeal is defensive in nature so that security ought not be ordered
  3. 3 Whether appellant has sufficient assets in Australia

Ratio Decidendi

The appellant, a foreign corporation, has not demonstrated sufficient assets within Australia to satisfy any costs order. The appeal, though characterized as defensive by the appellant, is not such that security ought to be withheld. The Court follows Sumatra Tobacco Trading and orders that security for costs be given, assessing the appropriate amount as $195,000, in addition to the $20,000 already provided.

Court Disposition

Application granted

Orders

  • The appellant provide further security for the respondent's costs, up to the conclusion of the hearing of the appeal, by way of deposit of the sum of $195,000 into the account with Westpac Banking Corporation operated by the Court for this purpose within seven days of the date of this order.
  • The sum deposited in the account and any interest accrued thereon shall remain in the account until further order.