Pisante & Ors v Logothetis & Ors [2020] EWHC 3588 (Comm) (10 December 2020)

Pisante & Ors v Logothetis & Ors [2020] EWHC 3588 (Comm) (10 December 2020)

Defendants are prima facie entitled to 95% of their costs of the security for costs application as they succeeded and acted reasonably, with a modest reduction for partial failure against the first claimant. A cross-undertaking in damages in the Commercial Court Guide form is required from the defendants as a condition of obtaining security for costs, due to potential costs to claimants and the individual status of Mr Pisante.

Citation
[2020] EWHC 3588 (Comm)
Parties
Claimant: Victor Pisante; Claimant: Swindon Holdings & Finance Limited; Claimant: BCA Shipping Investment Corporation; Claimant: Castor Navigation Limited; Defendant: George Logothetis; Defendant: Lomar Corporation Limited; Defendant: Lomar Shipmanagement Limited; Defendant: Libra Holdings Limited
Jurisdiction
England and Wales
Judgment Date
10 December 2020
Procedural Posture
Commercial Court Application / Post Judgment Costs and Security for Costs Determination
Outcome
Application granted in part
Legal Topics
Security for Costs, Costs Orders, Undertakings, Fraud Claims
Civil Procedure Commercial Law Security for Costs Costs Orders Undertakings Fraud Claims

Case Brief

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Parties

Victor Pisante

Claimant

Swindon Holdings & Finance Limited

Claimant

BCA Shipping Investment Corporation

Claimant

Castor Navigation Limited

Claimant

George Logothetis

Defendant

Lomar Corporation Limited

Defendant

Lomar Shipmanagement Limited

Defendant

Libra Holdings Limited

Defendant

Procedural Posture

Commercial Court Application / Post Judgment Costs and Security for Costs Determination

Legal Issues

  1. 1 Whether defendants are entitled to costs of the security for costs application
  2. 2 Whether a cross-undertaking in damages should be required from defendants as a condition of security for costs

Ratio Decidendi

Defendants are prima facie entitled to 95% of their costs of the security for costs application as they succeeded and acted reasonably, with a modest reduction for partial failure against the first claimant. A cross-undertaking in damages in the Commercial Court Guide form is required from the defendants as a condition of obtaining security for costs, due to potential costs to claimants and the individual status of Mr Pisante.

Court Disposition

Application granted in part

Orders

  • Defendants awarded 95% of their costs of the security for costs application
  • Defendants required to provide a cross-undertaking in damages in the Commercial Court Guide form as a condition of obtaining security for costs