6 Jun 2017
WALKER v FORBES [2017] NZHC 1212
- Citation
- [2017] NZHC 1212
- Court
- High Court
Because the plaintiffs cannot meet adverse costs without third-party funding and the litigation funder (SPF/LPF) stands to commercially profit, the court exercised its discretion to require substantial security for costs. The merits were treated as largely neutral but did not outweigh the policy that a commercial funder should bear a significant share of the defendants' cost risk; offers of a parent company guarantee were insufficient. The court ordered global security of NZD 2,630,000 for defendants other than Henderson, NZD 150,000 for Henderson, and NZD 450,000 for expert costs (part of gl…