Read the full judgment text of CACV 000190/2008 on BabelCite. This Court of Appeal judgment was delivered on 19 January 2009 before Rogers VP.
Civil procedure – security for costs – appeal – amount of security – London counsel fees – reasonable estimate – local counsel – building redevelopment – Lands Tribunal sale order – 13th Respondent purchased unit at late stage knowing of redevelopment plans by Applicant who held 92.31% – 13th Respondent invested approximately $2.5 million, about 2.7 times the apartment value – Lands Tribunal ordered sale of building after 10-day hearing – 13th Respondent's share of proceeds (slightly under $2 million) retained by Applicant's solicitors pending payment of costs – Application for security for costs in appeal – Court holds that security must be assessed at a reasonable amount based on competent local counsel, not the higher amount needed to cover London counsel – Appropriate amount estimated generously at $1 million – 13th Respondent given until 16 February 2009 to provide security by lodgment or bank guarantee – In default, appeal stands dismissed without further order – Costs of application to be costs in the Appeal
Legal issues: Appropriate amount of security for costs where London counsel is sought
Outcome: Security for costs ordered against the 13th Respondent in the sum of $1,000,000, to be provided by lodgment in court or bank guarantee by 16 February 2009; in default, the appeal stands dismissed without further order.
Cited by 1 case