YUANTA ASSET MANAGEMENT INTERNATIONAL LIMITED & Anor v TELEMEDIA PACIFIC GROUP LIMITED & Anor [2017] SGCA(I) 2 (10 February 2017)

YUANTA ASSET MANAGEMENT INTERNATIONAL LIMITED & Anor v TELEMEDIA PACIFIC GROUP LIMITED & Anor [2017] SGCA(I) 2 (10 February 2017)

The combination of the appellants' conduct regarding the solicitors' undertaking and the lack of reciprocal enforcement of judgments between Singapore and the countries where appellants may have assets justifies ordering additional security for costs.

Citation
[2017] SGCA(I) 2
Parties
Appellant/respondent: Yuanta Asset Management International Limited; Appellant/respondent: Yeh Mao-Yuan; Respondent/applicant: Telemedia Pacific Group Limited; Respondent/applicant: Hady Hartanto
Jurisdiction
Singapore
Judgment Date
10 February 2017
Procedural Posture
Civil Appeal (application for Further Security for Costs) / Application for Further Security for Costs Pending Appeal
Outcome
Application allowed
Legal Topics
Security for Costs, Appeals, Enforcement of Judgments
Civil Procedure Security for Costs Appeals Enforcement of Judgments

Case Brief

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Parties

Yuanta Asset Management International Limited

Appellant/respondent

Yeh Mao-Yuan

Appellant/respondent

Telemedia Pacific Group Limited

Respondent/applicant

Hady Hartanto

Respondent/applicant

Procedural Posture

Civil Appeal (application for Further Security for Costs) / Application for Further Security for Costs Pending Appeal

Legal Issues

  1. 1 Whether further security for costs should be ordered on appeal
  2. 2 Quantum of additional security for costs
  3. 3 Factors relevant to ordering further security for costs

Ratio Decidendi

The combination of the appellants' conduct regarding the solicitors' undertaking and the lack of reciprocal enforcement of judgments between Singapore and the countries where appellants may have assets justifies ordering additional security for costs.

Court Disposition

Application allowed

Orders

  • Appellants to provide additional security for costs of $20,000, making a total of $50,000, within 14 days by solicitor's undertaking, failing which the appeal will be deemed withdrawn or stayed pending provision of security.
  • Court to hear parties on costs of this application.