Craft Development SCI v Actis LLP & Ors

Craft Development SCI v Actis LLP & Ors

The withdrawal of the Defendants' non-admission regarding the validity of the Promesse de Vente extension constituted a material change only insofar as expert evidence on Cameroonian law was no longer required, justifying a reduction in the security for costs. However, it did not establish a high probability of success for the Claimant or warrant revocation of the security for costs order. There was no basis to vary the costs order made by Morris J, as the relevant liability was already considered by Stacey J. An unless order for payment of the reduced security for costs was justified and proportionate given the Claimant's continued non-compliance.

Parties
Claimant: Craft Development SCI; Defendant: Actis LLP; Defendant: Actis Africa Real Estate Fund 3 aka Actis Africa Real Estate 3 LP; Defendant: Actis Africa Real Estate 3A LP aka Actis Africa Real Estate Fund 3; Defendant: Actis Africa Real Estate 3 Co-Investment Scheme LP aka Actis Africa Real Estate Fund 3; Defendant: Actis Africa Real Estate 3C LP aka Actis Africa Real Estate Fund 3; Defendant: Actis GP LLP
Jurisdiction
England and Wales
Judgment Date
27 October 2025
Procedural Posture
Civil / Interlocutory Applications and Orders
Outcome
Applications to revoke or vary the security for costs and costs orders largely refused; security for costs reduced; unless order granted.
Legal Topics
Security for Costs, Variation and Revocation of Orders, Costs Assessment, Breach of Contract, Unlawful Means Conspiracy, Fraud
Civil Procedure Contract Law Security for Costs Variation and Revocation of Orders Costs Assessment Breach of Contract Unlawful Means Conspiracy Fraud

Case Brief

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Parties

Craft Development SCI

Claimant

Actis LLP

Defendant

Actis Africa Real Estate Fund 3 aka Actis Africa Real Estate 3 LP

Defendant

Actis Africa Real Estate 3A LP aka Actis Africa Real Estate Fund 3

Defendant

Actis Africa Real Estate 3 Co-Investment Scheme LP aka Actis Africa Real Estate Fund 3

Defendant

Actis Africa Real Estate 3C LP aka Actis Africa Real Estate Fund 3

Defendant

Actis GP LLP

Defendant

Procedural Posture

Civil / Interlocutory Applications and Orders

Legal Issues

  1. 1 Should the security for costs order made by Stacey J be revoked or varied under CPR 3.1.7?
  2. 2 Should the costs order made by Morris J be varied under CPR 3.1.7?
  3. 3 Should an unless order be made requiring payment of the outstanding security for costs?

Ratio Decidendi

The withdrawal of the Defendants' non-admission regarding the validity of the Promesse de Vente extension constituted a material change only insofar as expert evidence on Cameroonian law was no longer required, justifying a reduction in the security for costs. However, it did not establish a high probability of success for the Claimant or warrant revocation of the security for costs order. There was no basis to vary the costs order made by Morris J, as the relevant liability was already considered by Stacey J. An unless order for payment of the reduced security for costs was justified and proportionate given the Claimant's continued non-compliance.

Court Disposition

Applications to revoke or vary the security for costs and costs orders largely refused; security for costs reduced; unless order granted.

Orders

  • Security for costs reduced by £74,000 to £226,000.
  • Unless the Claimant pays security for costs in the sum of £226,000 within 6 weeks, the claim will be struck out.