Shares held by a foreign company in an Australian company do not constitute sufficient assets within the jurisdiction to defeat an application for security for costs where the shares can readily be encumbered or disposed of by transactions outside the jurisdiction and no proposal has been advanced to ensure their availability. A counterclaim seeking substantive relief by way of damages and equitable compensation against parties who are not parties to the original action is offensive, not defensive, even where the underlying dispute concerns the same agreement.
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