Nasionale Aartappelkoöperasie Bpk. v Pricewaterhousecoopers Ingelyf (055/07)
Nasionale Aartappelkoöperasie Bpk. v Pricewaterhousecoopers Ingelyf (055/07) [2007] ZASCA 166; [2007] SCA 166 (RSA) (29 November 2007)
The Supreme Court of Appeal held that the trial court correctly exercised its discretion in ordering the appellant to provide security for costs. The appellant failed to provide current financial statements and admitted its parlous financial state, justifying the inference that it could not satisfy an adverse costs order. The delay in bringing the application for security was not unreasonable or prejudicial, as the respondent was kept in the dark about the appellant's finances and acted reasonably in relying on the appellant's representations. The court found no evidence that the respondent's…
Source excerpt
- Security For Costs
- Exercise Of Judicial Discretion
- Companies Act Section 13
- Right Of Access To Court
- Delay In Application
- Insurance And Costs