Parsdome Holdings Limited v Plastic Energy Global SL

Parsdome Holdings Limited v Plastic Energy Global SL

Given the claimant's deliberate refusal to provide financial information and the lack of substantial evidence that indirect access to funds is equivalent to payment into court or bank guarantee, the gateway for security for costs is met. The court orders security at 70% of incurred costs, as previously agreed, amounting to £343,000, to be paid into court or secured by bank guarantee.

Parties
Claimant: Parsdome Holdings Limited; Defendant: Plastic Energy Global, S. L.
Jurisdiction
England and Wales
Judgment Date
11 October 2024
Procedural Posture
Commercial Court Application / Application for Security for Costs
Outcome
Application for security for costs allowed.
Legal Topics
Security for Costs, Costs Assessment, Litigation Funding
Civil Procedure Commercial Law Security for Costs Costs Assessment Litigation Funding

Case Brief

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Parties

Parsdome Holdings Limited

Claimant

Plastic Energy Global, S. L.

Defendant

Procedural Posture

Commercial Court Application / Application for Security for Costs

Legal Issues

  1. 1 Whether the claimant should be ordered to provide further security for costs
  2. 2 What amount of security is reasonable and proportionate
  3. 3 Assessment of recoverable costs for the application

Ratio Decidendi

Given the claimant's deliberate refusal to provide financial information and the lack of substantial evidence that indirect access to funds is equivalent to payment into court or bank guarantee, the gateway for security for costs is met. The court orders security at 70% of incurred costs, as previously agreed, amounting to £343,000, to be paid into court or secured by bank guarantee.

Court Disposition

Application for security for costs allowed.

Orders

  • Claimant to provide additional security for costs in the sum of £343,000 by payment into court or first-class London bank guarantee within 21 days.
  • Defendant's recoverable costs for the application summarily assessed at £40,000, to be paid within 14 days.