7 Jun 2017
TRIASTRA LIMITED v THE PROPRIETORS OF TAHAROA "C" BLOCK [2017] NZHC 1229
- Citation
- [2017] NZHC 1229
- Court
- High Court
Threshold established that there was reason to believe the plaintiff would be unable to meet an adverse costs order given its lack of realisable assets and single‑client history; balancing discretion, plaintiff's success fee claim and implied‑term case were weak enough that security for costs should be ordered but structured incrementally so as not to halt proceedings: total security fixed at NZD 32,500 with NZD 15,000 payable by 30 June 2017 and the remainder on the setting down date; costs of the application to follow the event on a 2B basis in favour of the defendant.