A company in liquidation resisting security for costs on stultification grounds must lead admissible evidence from at least the principal creditors who stand to benefit from the litigation, including the creditor who brought the winding up proceedings and any substantial creditors identified in the evidence. Where the company alleges its impecuniosity was caused by the respondent, the court may have regard to the apparent strength of the causation case by reference to the findings at trial, even though those findings are under challenge on appeal.
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