4 Mar 2009
TOTARA INVESTMENTS LIMITED V ABOOTH LIMITED & ANOR HC AK CIV 2007-404-000990
- Citation
- openlaw-66f618d0_ff0e_48da_869d_2ebe330586b7.pdf
- Court
- High Court
The Court found that, on the limited but credible surrounding evidence (nominal capital, disposal of known assets, dependence on borrowing, links to scheme promoters and lack of contrary evidence), there was reason to believe Totara may be unable to pay costs; balancing interests and considering the merits and complexity the Court exercised its discretion to order security for costs (quantum NZ$75,000 for five Lowndes Jordan defendants) and reclassified the proceeding as category 3 for costs.