11 Nov 2020
MILLINIUM CAPITAL MANAGERS LIMITED v SOMA GROUP LIMITED [2020] NZHC 2967 [11 November 2020]
- Citation
- [2020] NZHC 2967
- Court
- High Court
The plaintiff's prompt offer of $10,000 security, excluding sunk costs and reflecting a realistic 2B scale assessment for the anticipated hearing, was reasonable; defendants' failure to seek or negotiate security before filing the application and to account for sunk costs disentitled them to a larger award, therefore security is fixed at $10,000 to be held by plaintiff's solicitors and defendants must pay plaintiff's costs on a 2B basis.