Pagemanor Ltd v Ryan & Ors [2002] EWCA Civ 1065 (12 July 2002)

Pagemanor Ltd v Ryan & Ors [2002] EWCA Civ 1065 (12 July 2002)

Pagemanor Limited is a company within section 726 and is in principle liable to provide security for costs; a modest order is appropriate to avoid stifling the appeal, but the applicant's financial position justifies security being ordered.

Citation
[2002] EWCA Civ 1065
Parties
Claimant/appellant (respondent): Pagemanor Limited; Defendant/respondent (applicant): Martin Ryan; Defendant/respondent (applicant): Lesley Ryan; Defendant/respondent (applicant): Michael Ryan; Defendant/respondent (applicant): Doris Ryan
Jurisdiction
England and Wales
Judgment Date
12 July 2002
Procedural Posture
Appeal (application for Security for Costs) / Application for Security for Costs Pending Appeal
Outcome
Application granted in part; security for costs ordered.
Legal Topics
Security for Costs, Appeals, Section 726 Companies Act 1985, Section 423 Insolvency Act 1986, Balance Sheet Insolvency
Civil Procedure Company Law Insolvency Security for Costs Appeals Section 726 Companies Act 1985 Section 423 Insolvency Act 1986 Balance Sheet Insolvency

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Parties

Pagemanor Limited

Claimant/appellant (respondent)

Martin Ryan

Defendant/respondent (applicant)

Lesley Ryan

Defendant/respondent (applicant)

Michael Ryan

Defendant/respondent (applicant)

Doris Ryan

Defendant/respondent (applicant)

Procedural Posture

Appeal (application for Security for Costs) / Application for Security for Costs Pending Appeal

Legal Issues

  1. 1 Whether Pagemanor Limited should provide security for costs under section 726 of the Companies Act 1985
  2. 2 Whether an order for security would stifle the appeal
  3. 3 Whether the respondents have clean hands

Ratio Decidendi

Pagemanor Limited is a company within section 726 and is in principle liable to provide security for costs; a modest order is appropriate to avoid stifling the appeal, but the applicant's financial position justifies security being ordered.

Court Disposition

Application granted in part; security for costs ordered.

Orders

  • Security in the sum of £5,000 to be provided within 28 days.
  • Appeal to be stayed in the meantime and dismissed automatically if security is not provided within 28 days.