11 Jun 2021
KIDD v VAN HEEREN [2021] NZCA 244
- Citation
- [2021] NZCA 244
- Court
- Court of Appeal
The Court upheld the Judge's discretionary refusal to release the interim USD 25 million because the appellants failed to show the Judge erred: there was real risk the ultimate account would be substantially less than the interim sum; the litigation funder LCM had a priority claim likely to consume most of any distribution making recovery of any surplus unlikely; no adequate plan, security, or undertakings were provided to protect against irrecoverability; insufficient admissible evidence was before the Court about the need for immediate release to meet foreign security for costs; and appella…
- Interim payment and security for repayment
- Accounting between partners
- Fraudulent diversion of partnership assets
- Priority of litigation funders
- Release of funds from court registry
- Security for costs in foreign proceedings