Read the full judgment text of CACV 000255/2002 on BabelCite. This Court of Appeal judgment was delivered on 10 September 2002 before Leong CJHC.
Civil appeal – security for costs – impecunious appellant – legal charge securing loan for property purchase – default in repayment – judgment for over $175 million with interest – 1st defendant a property-holding corporation with no income – other properties sold by mortgagees – several actions claiming substantial sums – whether appellant's impecuniosity is a ground for ordering security for costs – held: impecuniosity is a ground for such an order and is not a bar even if appellant is thereby prevented from pursuing the appeal – exercise of court's discretion – no special circumstances in this case – appeal on a point of fact and a new line of defence not pleaded at trial and disavowed by trial counsel – prospects of success poor – order for security for costs made – appropriate amount of security – estimate of $350,000 for a one-day hearing too high – one-third reduction on taxation not unusual – held: $200,000 is a reasonable amount – 1st defendant ordered to furnish $200,000 within 28 days, failing which appeal stands dismissed – costs of application to plaintiff
Legal issues: Whether security for costs should be ordered against an impecunious appellant · Appropriate amount of security for costs
Outcome: Application for security for costs granted; 1st defendant ordered to furnish $200,000 as security within 28 days, failing which the appeal shall stand dismissed without further order; costs of the application to the plaintiff