21 Apr 2006
UPPER HARBOUR DEVELOPMENTS LTD (IN LIQ) V ERCEG HC AK CIV 2006-404-1050
- Citation
- openlaw-4f08d4e1_d44e_4e20_980e_72156b2a8c05.pdf
- Court
- High Court
Because the caveator had an acknowledged arguable interest and the parties consented to substitution of security for the caveat, the Court fixed security at $500,000 as the sum necessary to fully protect the caveator's legitimate interests (creditor claim, interest allowance, liquidators' costs and estimated litigation costs), and ordered the caveat to be discharged on provision of that security to the Registrar, subject to the respondent first establishing beneficial ownership of the shares and leave to vary the security if costs materially decrease.