Transpac Investments Limited v TIH Limited [2024] SGHC(I) 12 (29 April 2024)

Transpac Investments Limited v TIH Limited [2024] SGHC(I) 12 (29 April 2024)

The claimant, being a foreign company with no fixed and permanent assets within jurisdiction and whose financial position is opaque, should provide further security for costs to protect the defendant, as enforcement abroad would be difficult and there is no evidence that such an order would stifle the claim.

Citation
[2024] SGHC(I) 12
Parties
Claimant: Transpac Investments Ltd; Defendant: TIH Ltd
Jurisdiction
Singapore
Judgment Date
29 April 2024
Procedural Posture
Originating Application / Interlocutory Application for Further Security for Costs
Outcome
Application for further security for costs granted.
Legal Topics
Security for Costs, Costs, Jurisdiction, Enforcement of Judgments
Civil Procedure Security for Costs Costs Jurisdiction Enforcement of Judgments

Case Brief

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Parties

Transpac Investments Ltd

Claimant

TIH Ltd

Defendant

Procedural Posture

Originating Application / Interlocutory Application for Further Security for Costs

Legal Issues

  1. 1 Whether further security for costs should be ordered against a foreign claimant
  2. 2 Whether the claimant has sufficient assets within jurisdiction to satisfy an adverse costs order
  3. 3 Whether delay in applying for security should defeat the application

Ratio Decidendi

The claimant, being a foreign company with no fixed and permanent assets within jurisdiction and whose financial position is opaque, should provide further security for costs to protect the defendant, as enforcement abroad would be difficult and there is no evidence that such an order would stifle the claim.

Court Disposition

Application for further security for costs granted.

Orders

  • TIL to provide security for costs in favour of TIH in the sum of $500,000 by 15 May 2024 by way of a solicitor's undertaking or otherwise in a form reasonably satisfactory to TIH.
  • TIL to pay TIH's costs of this application, to be assessed and dealt with at the end of the trial unless otherwise agreed.