15 Oct 2020
HI-TEC PROPERTY DEVELOPMENTS LIMITED v PHI CONSTRUCTION LIMITED [2020] NZHC 2719
- Citation
- [2020] NZHC 2719
- Court
- High Court
The threshold for security was met; security ordered reflecting usual practice (two-thirds approach adjusted) and reduced to account for the portion of estimated costs attributable to the counterclaim (one-third deduction from the defendants' adjusted $60,000), resulting in $40,000 security ordered against the plaintiff and $25,000 ordered by consent against the defendants; both matters stayed until security is paid.