2 Mar 2010
KOONER & GUPTA SONS LIMITED V VIJAY KUMAR PATEL, AMEISHA PATEL & JATIN PATEL AS TRUSTEES OF THE AP FAMILY TRUST AND ANOR HC ROT CIV 2008-063-000955
- Citation
- openlaw-d3d4551e_cc04_4cf1_a1d7_b055a796d8ed.pdf
- Court
- High Court
Security for costs was ordered because the plaintiff's own financial evidence did not satisfy the Court that it could meet a costs award: marginal and qualified equity, recent profit claim was not persuasive, director's assets were encumbered and unsupported sale valuations were unproven, and the claim's resolution would require significant oral assessment and expert input such that proposed security was justified. The Court fixed security at NZD 30,000 for the first defendants and NZD 20,000 for the second defendant, to be lodged in trust by a set date and the proceeding stayed until payment.