1 Mar 2021
ALPINE SOUTH FISHING LTD (IN LIQUIDATION) v KIM [2021] NZHC 319
- Citation
- [2021] NZHC 319
- Court
- High Court
The Court found the plaintiff's prospects of success to be low on an interlocutory impression, the plaintiff is impecunious and has had prior opportunity to provide security; a fair and proportionate quantum of security for costs is $35,000 to protect the defendant without being oppressive. The proceeding is stayed until that sum is paid; if not paid within three months defendant may apply to strike out. Indemnity costs sought were refused because it was unlikely the loan agreement's costs clauses would be read to cover defending these substantive causes of action at trial.