Vald. Nielsen Holding A/S & Anor v Baldorino & Ors

Vald. Nielsen Holding A/S & Anor v Baldorino & Ors

The grant of permission to re-amend the Particulars of Claim and adjournment of trial constituted a material change in circumstances, justifying an order for additional security for costs, but only in respect of certain limited elements of the Defendants' estimated increased costs.

Parties
Claimant: VALD. NIELSEN HOLDING A/S; Claimant: NEWWATCH LIMITED; Defendant: MR VICTOR BALDORINO; Defendant: MR RICHARD BENNETT; Defendant: MR JULIAN MANTELL
Jurisdiction
England and Wales
Judgment Date
05 May 2017
Procedural Posture
Commercial Court Claim / Ruling on Application for Additional Security for Costs and Reserved Costs Orders
Outcome
Application for additional security for costs partially allowed; reserved costs orders made.
Legal Topics
Security for Costs, Fraudulent Misrepresentation, Assignment of Claims, Costs Orders
Civil Procedure Commercial Law Security for Costs Fraudulent Misrepresentation Assignment of Claims Costs Orders

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Parties

VALD. NIELSEN HOLDING A/S

Claimant

NEWWATCH LIMITED

Claimant

MR VICTOR BALDORINO

Defendant

MR RICHARD BENNETT

Defendant

MR JULIAN MANTELL

Defendant

Procedural Posture

Commercial Court Claim / Ruling on Application for Additional Security for Costs and Reserved Costs Orders

Legal Issues

  1. 1 Whether there has been a material change in circumstances justifying additional security for costs
  2. 2 Appropriate quantum of additional security for costs
  3. 3 Allocation of reserved costs for re-amendment and adjournment applications

Ratio Decidendi

The grant of permission to re-amend the Particulars of Claim and adjournment of trial constituted a material change in circumstances, justifying an order for additional security for costs, but only in respect of certain limited elements of the Defendants' estimated increased costs.

Court Disposition

Application for additional security for costs partially allowed; reserved costs orders made.

Orders

  • Claimants to provide additional security for costs in the sum of £200,000.
  • Claimants permitted to provide security in the form ordered by Carr J.