Read the full judgment text of CACV 351/2021 on BabelCite. This Court of Appeal judgment was delivered on 25 March 2022 before Hon Poon CJHC and Au JA.
Civil procedure – security for costs – impecuniosity – merit of appeal – contractual interpretation – statutory demand – director and officer liability indemnity policy – time bar – application to set aside statutory demand dismissed – appeal – application for security for costs – whether order should be made – applicant impecunious but failed to disclose assets or show inability to raise funds – appeal lacking merit – lower judge correctly applied principles of contractual interpretation from Eminent Investments (Asia Pacific) Limited v DIO Corp – applicant's arguments regurgitated below and reliance on American cases not properly explained – security reduced from HK$600,000 to HK$300,000 – appeal stayed pending payment – automatic dismissal if security not provided – costs of application summarily assessed at HK$100,000
Legal issues: Security for costs on appeal
Outcome: Application for security for costs granted in part; security reduced to HK$300,000; costs of application summarily assessed at HK$100,000.
Cited by 1 case