Republic of Kazakhstan v Istil Group Inc

The agreement for security for costs did not expressly preclude further security in the event of a material change of circumstances. There was a material change of circumstances due to the expanded scope and duration of the proceedings, justifying an order for further security for costs.

Parties: Claimant/respondent: Republic of Kazakhstan; Defendant/appellant: ISTIL Group Inc
Jurisdiction: England and Wales
Judgment Date: 09 November 2005
Procedural Posture: Civil Appeal / Appeal From High Court (commercial Court) to Court of Appeal
Outcome: Appeal allowed
Legal Topics: Security for Costs, Contractual Interpretation, Change of Circumstances, Enforcement of Arbitration Awards

Civil Procedure Arbitration Security for Costs Contractual Interpretation Change of Circumstances Enforcement of Arbitration Awards

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 2 Authorities cited 4 Party arguments 2 Amounts and remedies 3

Parties

Republic of Kazakhstan

Claimant/respondent

ISTIL Group Inc

Defendant/appellant

Procedural Posture

Civil Appeal / Appeal From High Court (commercial Court) to Court of Appeal

Legal Issues

1 Whether the agreement for security for costs precluded further security in the event of a material change of circumstances
2 Whether there was a material change of circumstances justifying further security for costs
3 Whether the court should exercise its discretion to order further security for costs

Ratio Decidendi

Court Disposition

Appeal allowed

Orders

Order of Christopher Clarke J set aside
Republic of Kazakhstan to provide further security for costs in the sum of £120,000 (less £15,000 already paid) by 1 December 2005