29 Jan 2021
DELCO PARTICIPATION B.V. v. CHIHO ENVIRONMENTAL GROUP LTD AND ANOTHER
- Citation
- [2021] HKCFI 250
- Court
- Court of First Instance
- Case number
- HCA3040/2015
The court held that security for costs should be ordered because Delco is an overseas plaintiff and it was just to do so; the Court of Appeal decision establishes that the defendants' counterclaims operate as a defence (equitable set-off/estoppel by convention) so defendants are primarily defending themselves and not 'real attackers', but that does not preclude ordering security. Applying a broad brush assessment and discounts for duplication and stage, the court fixed security at HK$9,000,000 for A2943, HK$9,000,000 for A3040 and HK$3,600,000 for A2939 (post-PTR) with payment within 28 days.