1 Mar 2006
HORNE AS LIQUIDATOR OF WESTLAND MACHINERY TRADERS LIMITED V SMITH AND ANOR HC CHCH CIV 2005-418-000063
- Citation
- openlaw-2c80e728_dd77_4721_8559_3ebd1396fb15.pdf
- Court
- High Court
Security for costs ordered because the litigation has been funded by a substantial interested creditor (Ricon) who stands to gain, creating an undue imbalance compared with the defendants who risk unrecoverable costs; the liquidator is impecunious and there is no assurance of personal liability or additional funding, therefore security of $12,500 each is appropriate.