When is Security for Costs Ordered?
Martin John Green in his capacity as liquidator of Arimco Mining Pty Limited (in liquidation) v CGU Insurance & Ors [2008] NSWSC 449
Application for security for costs against liquidator plaintiff - liquidator had support of litigation funder - delay in making application - exposition of relevant principles - security for costs ordered but only as to future costs.
In this case, decided on 9 May 2008, Einstein J had to determine the important question of whether a Plaintiff Liquidator should be required to provide security for costs where the litigation is funded by external funders. In coming to his conclusion that the liquidator should so provide security His Honour comprehensively reviewed the authorities concerning the relevant law.
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