Where a plaintiff's claim and a defendant's cross-claim arise from the same or essentially the same factual matrix, security for costs will generally not be ordered under s 1335 of the Corporations Law unless the defendant undertakes not to pursue its cross-claim. A contractual right of set-off that has not yet matured may nonetheless entitle the holder to declaratory relief in current proceedings, but this does not alter the security for costs analysis where the set-off is a comparatively minor part of the overall dispute.
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