Worldwide Australia LLC v Jacobsen Platinum Pty Limited & Ors [2005] NSWSC 846

Worldwide Australia LLC v Jacobsen Platinum Pty Limited & Ors [2005] NSWSC 846

Because the plaintiff was an external plaintiff and the evidence did not show with sufficient clarity that it had funds or ready access to funds within the jurisdiction, security for costs was appropriate. Having regard to the likely complexity of the proceeding, the probable evidence and quantum issues, the absence of defences, and appropriate allowance for uncertainties, a fair and reasonable security amount was $500,000 payable in two tranches.

Jurisdiction
Australia
Judgment Date
24 August 2005
Procedural Posture
Security for Costs Application in Commercial List Proceedings / Amended Notice of Motion by the First to Eighth Defendants Before Defences Had Been Filed
Outcome
Security for costs ordered
Legal Topics
['security for Costs' 'external Plaintiff' 'partnership Dispute' 'costs Discretion']
['civil Procedure' 'commercial Law'] ['security for Costs' 'external Plaintiff' 'partnership Dispute' 'costs Discretion']

Case Brief

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Procedural Posture

Security for Costs Application in Commercial List Proceedings / Amended Notice of Motion by the First to Eighth Defendants Before Defences Had Been Filed

Legal Issues

  1. 1 ['Whether the Delaware-incorporated plaintiff had assets within New South Wales identified with sufficient precision to avoid the usual security for costs rule for an external plaintiff.' 'What amount of security for costs should be ordered and whether it should be paid in separate tranches.']

Ratio Decidendi

Because the plaintiff was an external plaintiff and the evidence did not show with sufficient clarity that it had funds or ready access to funds within the jurisdiction, security for costs was appropriate. Having regard to the likely complexity of the proceeding, the probable evidence and quantum issues, the absence of defences, and appropriate allowance for uncertainties, a fair and reasonable security amount was $500,000 payable in two tranches.

Court Disposition

Security for costs ordered

Orders

  • ['The plaintiff is to pay security for costs of the first to eighth defendants in the total sum of $500,000.' 'Tranche 1: payment of $250,000 within 28 days.' 'Tranche 2: payment of the balance within 90 days.' 'The parties are to bring in short minutes of order, on which occasion costs may be argued.']