Motor Trade Finances Prestige Leasing P/L v Elderslie Finance Corporation Ltd & 2 Ors [2005] NSWSC 921

Motor Trade Finances Prestige Leasing P/L v Elderslie Finance Corporation Ltd & 2 Ors [2005] NSWSC 921

The previous consent order for $50,000 security for costs was limited to costs up to mediation and does not preclude a further order for security for future costs. There is no relevant discretionary bar to ordering further security (delay and causation of impecuniosity do not apply). Quantum of $160,000 is reasonable security for costs up to and including hearing, taking into account estimates and division of costs between solicitors and counsel.

Parties
Plaintiff: Motor Trade Finances Prestige Leasing Pty Ltd; First Defendant: Elderslie Finance Corporation Ltd; Other Defendants: Unnamed Second and Third Defendants
Jurisdiction
Australia
Judgment Date
02 September 2005
Procedural Posture
Application for Security for Costs / Interlocutory (pre Trial)
Outcome
Application for further security for costs granted
Legal Topics
Security for Costs, Corporate Plaintiff, Impecuniosity, Consent Orders, Quantum of Security
Practice and Procedure Commercial Law Security for Costs Corporate Plaintiff Impecuniosity Consent Orders Quantum of Security

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 3 Party arguments 2 Amounts and remedies 5
Sign in to unlock

Parties

Motor Trade Finances Prestige Leasing Pty Ltd

Plaintiff

Elderslie Finance Corporation Ltd

First Defendant

Unnamed Second and Third Defendants

Other Defendants

Procedural Posture

Application for Security for Costs / Interlocutory (pre Trial)

Legal Issues

  1. 1 Whether prior consent order for security for costs precludes further security
  2. 2 Whether consent order compromised the claim for entire proceedings or part only
  3. 3 Whether security for costs should be refused on discretionary grounds (delay, plaintiff's impecuniosity caused by defendant)

Ratio Decidendi

The previous consent order for $50,000 security for costs was limited to costs up to mediation and does not preclude a further order for security for future costs. There is no relevant discretionary bar to ordering further security (delay and causation of impecuniosity do not apply). Quantum of $160,000 is reasonable security for costs up to and including hearing, taking into account estimates and division of costs between solicitors and counsel.

Court Disposition

Application for further security for costs granted

Orders

  • Plaintiff to provide additional security for costs of $160,000, in two instalments of $80,000 each by bank guarantee or as otherwise acceptable to defendants, by 30 September 2005 and 28 October 2005.
  • If security is not provided as ordered, proceedings to be stayed.