Read the full judgment text of CACV 381/2001 on BabelCite. This Court of Appeal judgment was delivered on 1 November 2002 before Rogers VP, Le Pichon JA, Stone J.
Civil procedure – leave to appeal to Court of Final Appeal – security for costs – impecuniosity – commercial companies – judgment sum of over $4,400,000 – costs of $2,315,000 unpaid – 1st defendant charged assets after judgment – 2nd defendant made loss – leave to appeal granted – security of $200,000 per defendant ordered as fair and reasonable – no resistance to grant of leave – only dispute as to amount of security – court held security necessary to protect plaintiff – defendants' impecuniosity not a bar to security order – appeal likely to incur costs much higher than $400,000 total – security ordered to safeguard plaintiff's position.
Legal issues: Leave to appeal to Court of Final Appeal
Outcome: Leave to appeal to the Court of Final Appeal granted; security for costs ordered in the sum of $200,000 for each defendant.
Cited by 3 cases · Cites 1 case