Irish Bank Resolution Corporation Ltd v DTZ Debenham Tie Leung Ltd [2013] EWHC 596 (Comm) (07 March 2013)

Irish Bank Resolution Corporation Ltd v DTZ Debenham Tie Leung Ltd [2013] EWHC 596 (Comm) (07 March 2013)

The Defendant failed to demonstrate a real risk that the Claimant would be unable to satisfy any costs order due to the unique liquidation; the relevant Irish statutory provisions ensure priority for costs, and the floating charge does not affect this priority under current Irish law.

Citation
[2013] EWHC 596 (Comm)
Parties
Applicant/defendant: Irish Bank Resolution Corporation Ltd; Respondent/claimant: DTZ Debenham Tie Leung Ltd
Jurisdiction
England and Wales
Judgment Date
07 March 2013
Procedural Posture
Commercial Court Application / Application for Security for Costs
Outcome
Application for security for costs dismissed
Legal Topics
Security for Costs, Liquidation, Priority of Costs, Floating Charge, Professional Negligence
Insolvency Civil Procedure Security for Costs Liquidation Priority of Costs Floating Charge Professional Negligence

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Parties

Irish Bank Resolution Corporation Ltd

Applicant/defendant

DTZ Debenham Tie Leung Ltd

Respondent/claimant

Procedural Posture

Commercial Court Application / Application for Security for Costs

Legal Issues

  1. 1 Whether security for costs should be ordered against a claimant in unique Irish liquidation
  2. 2 Whether liquidation affects priority of costs
  3. 3 Impact of floating charge on priority costs

Ratio Decidendi

The Defendant failed to demonstrate a real risk that the Claimant would be unable to satisfy any costs order due to the unique liquidation; the relevant Irish statutory provisions ensure priority for costs, and the floating charge does not affect this priority under current Irish law.

Court Disposition

Application for security for costs dismissed

Orders

  • Application for security for costs is dismissed